UNIONDALE, NY, Mar. 19, 2009 - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $17,500,000 loan under the Fannie Mae DUS® ARM product line to finance the 168-unit complex known as Reflections of Island Park(top right photo) in Shreveport, LA.The 10-year loan amortizes on a 30-year schedule and carries an adjustable note rate of 4.58 percent.
The loan was originated by John Edwards, (bottom left photo) Vice President, in Arbor’s full-service Boston, MA lending office. “Architecturally, the subject property has an outstanding design and layout consistent with the unique Louisiana style,” said Edwards.
“The property is well- positioned in the marketplace, and we were pleased to provide the financing for an experienced developer in the region.”
Contact: Ingrid Principe, P: 516.506.4298. F: 516.542.2555, http://www.arbor.com/
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