Woodside Glen Apartments in Montgomery, AL Gets $11.93M Fannie Mae DUS(r)FRM LoanUNIONDALE, NY, Nov. 4, 2008- – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,934,700 loan under the Fannie Mae DUS®FRM product line to refinance the 184-unit complex known as Woodside Glen Apartments (top right photo) located in Montgomery, AL.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.93 percent.The loan was originated by Ronen Abergel, (top left photo) Director, in Arbor’s full-service New York City lending office.
“The borrower chose to execute this loan as a floating rate transaction hedged with an interest rate cap and the option to convert to fixed rate after 12 months,” said Abergel. “An attractive pre-payment penalty also gave the borrower the flexibility to dispose of the asset during the loan term.”
Harvard Square Cooperative in Indianapolis Obtains $4.5M LoanUNIONDALE, NY, Nov. 4, 2008 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,500,000 loan under the Fannie Mae DUS® product line to refinance the 342-unit complex known as Harvard Square Cooperative (middle left photo) located in Indianapolis, IN.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.34 percent.
The loan was originated by Michael Jehle,(middle right photo) Director, in Arbor’s full-service Bloomsfield Hills, MI office. “The members of this cooperative desired a new loan to provide funds for major capital improvements to their property,” said Jehle. “Arbor was able to meet their objectives with the loan size they were seeking and with a very attractive fixed interest rate.”
Omega Estates in Branford, CT Receives $1.85M Fannie Mae Loan
UNIONDALE, NY, Nov. 4, 2008 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,850,000 loan under the Fannie Mae DUS® Small loan product line to refinance the 51-unit com
plex known as Omega Estates lo
cated in Branford, CT.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.43 percent.
The loan was originated by John Edwards, (bottom right photo) Vice President, in Arbor’s full-service Boston, MA lending office.
UNIONDALE, NY, Nov. 4, 2008 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,850,000 loan under the Fannie Mae DUS® Small loan product line to refinance the 51-unit com
plex known as Omega Estates lo
cated in Branford, CT.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.43 percent.
The loan was originated by John Edwards, (bottom right photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“This loan demonstrates our continued commitment to providing financing for smaller multifamily properties with a solid owner and operator at an attractive interest rate,” said Edwards.
(Branford, CT Main Street building, bottom left photo)
Contact: Ingrid Principe, Tel: (516) 506-4298, iprincipe@arbor.com
Contact: Ingrid Principe, Tel: (516) 506-4298, iprincipe@arbor.com
