Arbor Closes Two Apartment Loans Totaling $13M

Kings Bridge Apartments in Roswell, GA Obtains $10,614,100 Fannie Mae DUS® Loan

Uniondale, NY (February 20, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $10,614,100 loan under the Fannie Mae DUS® ARM product line to refinance the 312-unit complex known as Kings Bridge (top right photo) in Roswell, GA.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.41 percent.

The loan was originated by Ronen Abergel, (top left photo) Director, in Arbor’s full-service New York, NY lending office. “The terms of the loan allowed the borrower to refinance their current debt, yet maintain flexibility in the event of reversion in the near future,” said Abergel.

Thompson Drive Complex in Randolph, MA Receives $2.69M Loan

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,693,500 loan under the Fannie Mae DUS® Small Loan product line to refinance the 24-unit complex known as Thompson Drive in Randolph, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.51 percent.

The loan was originated by John Kelly,(bottom right photo) Vice President, in Arbor’s full-service Boston, MA lending office.

“This transaction demonstrates Arbor’s continued ability to provide the most favorable financing available for multifamily properties.

"Our client has owned the property for several years and has done an excellent job of maintaining a quality asset,” said Kelly. “Arbor’s small balance multifamily program continues to be an excellent financing option for owners/operators across the country.”

CONTACT: Ingrid Principe, PH 516 506 4298. FX 516 542 2555. IPrincipe@arbor.com