Bluebonnet Springs Townhomes in Arlington, TX Receives $3.4MUNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,400,000 loan under the Fannie Mae DUS® product line to refinance the 138-unit property known as Bluebonnet Springs Townhomes in Arlington, TX.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.41 percent.
The loans were originated by Stephen York, (top right photo) Director, in Arbor’s full-service Uniondale, NY lending office.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.41 percent.
The loans were originated by Stephen York, (top right photo) Director, in Arbor’s full-service Uniondale, NY lending office.
“The Sponsor completed significant capital improvements over the course of two years and increased the occupancy to a stabilized level,” said York. “Once the property was ready for permanent financing, Arbor was pleased to deliver competitive terms, which included sizeable cash-out.”
Franklin Street Apartments in Worcester, MA Obtains $2.6M
Uniondale, NY (March 3, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,685,900 loan under the Fannie Mae DUS® Small Loan product line to refinance the 55-unit complex known as Franklin Street in Worcester MA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.15 percent.
The loan was originated by John Kelly, (bottom left photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“This was an excellent fit for our small balance lending program,” said Kelly. “We were able to provide nonrecourse financing at what continues to be historically low interest rates for our client.”
Contact: Ingrid Principe, P: 516.506.4298. F: 516.542.2555. http://www.arbor.com/
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