Isabella Apartments in Bellingham, WA Receives $6,460,900UNIONDALE, NY, Mar. 16, 2009 - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $6,460,900 loan under the Fannie Mae DUS® product line to refinance the 96-unit complex, Isabella Apartments in Bellingham, WA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 4.50 percent.
The loan was originated by Jon Red, (middle right photo) Director, in Arbor’s full-service Spokane, WA lending office.“The broker selected Arbor for this project as the borrower was looking for cash out with a low rate on a stabilized apartment complex he had built in 2006,” said Red.
“We were able to meet the borrower’s expectations in a very volatile interest rate environment with an attractive floating rate structure.”
Casa Villa Apartments in Forth Worth, TX Obtains $2.55MIn Fort Worth, TX, Arbor Commercial Funding closed a $2,550,000 loan under the Fannie Mae DUS® product line to refinance the 140-unit complex known as Casa Villa Apartments. (bottom right photo)
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.23 percent.
The loan was originated by Matt Norman, (middle left photo) Vice President, in Arbor’s full-service Dallas, TX lending office. “Arbor’s ability to work with all parties involved resulted in a key acquisition for our California-based borrower,” said Norman.
Contact: Ingrid Principe, P: 516.506.4298. F: 516.542.2555. http://www.arbor.com/
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