Hinkston Pond Apartments in Waukegan, IL Receives $4.87M
UNIONDALE, NY (Feb. 13, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,871,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 120-unit complex known as Hinkston Pond Apartments in Waukegan, IL.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.29 percent.
The loan was originated by Peter Margolin, (top right photo) Director, in Arbor’s full-service Deerfield, IL lending office. “The borrowers were pressed for time on this purchase transaction and Arbor was able satisfy their needs and close the loan in less than 60 days,” said Margolin.
UNIONDALE, NY (Feb. 13, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,871,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 120-unit complex known as Hinkston Pond Apartments in Waukegan, IL.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.29 percent.
The loan was originated by Peter Margolin, (top right photo) Director, in Arbor’s full-service Deerfield, IL lending office. “The borrowers were pressed for time on this purchase transaction and Arbor was able satisfy their needs and close the loan in less than 60 days,” said Margolin.
Quail Hollow Village in Terryville, CT Obtains $2.66M
UNIONDALE , NY (Feb. 13, 2009) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,660,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 66-unit complex known as Quail Hollow Village in Terryville, CT.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.42 percent.
The loan was originated by John Edwards, (middle left photo) Vice President, in Arbor’s full-service Boston, MA lending office. “We were pleased with the opportunity to provide financing for this local owner and operator,” said Edwards.
Wooded Acres Apartments in Lufkin, TX Gets $1.38M
UNIONDALE, NY (Feb. 13, 2009) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,380,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 60-unit complex known as Wooded Acres Apartments in Lufkin, TX.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.46 percent.
The loan was originated by Jay Porterfield, (bottom right photo) Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor had the opportunity to provide financing on this high-quality property with a very experienced Borrower,” said Porterfield. “Arbor is one of only a handful of DUS® lenders actively funding affordable housing properties within our Small Loans program.”
UNIONDALE, NY (Feb. 13, 2009) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,380,000 loan under the Fannie Mae DUS® Small Loans product line to finance the 60-unit complex known as Wooded Acres Apartments in Lufkin, TX.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.46 percent.
The loan was originated by Jay Porterfield, (bottom right photo) Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor had the opportunity to provide financing on this high-quality property with a very experienced Borrower,” said Porterfield. “Arbor is one of only a handful of DUS® lenders actively funding affordable housing properties within our Small Loans program.”
Contact: KMaxey@arbor.com
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