Friday, April 24, 2009

Arbor Closes 3 Loans Totaling $10M in LA and GA

Two Fannie Mae DUS® Small Loans on Georgia Properties Total $4,727,100

UNIONDALE, NY) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $4,727,100 under the Fannie Mae DUS® Small Loans product line. These loans include:

· Lauren Heights Apartments - Marietta, GA – 48-unit complex in the amount of $1,727,100. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent.

· Wyndham Hills Apartments - Forest Park, GA – 112-unit complex in the amount of $3,000,000. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent.

The loans were originated by Robert Anderson, (top right photo) Director, in Arbor’s full-service Atlanta, GA lending office.

“Arbor was able to provide long-term financing for an experienced borrower and his two properties in the metro Atlanta area,” said Anderson. “The client was happy to take advantage of a drop in interest rates to replace their maturing mortgage.”

$4,555,000 Fannie Mae DUS® Small Loan Goes to 8th Street/S. Westlake Apartments in Los Angeles, CA

Uniondale, NY (April 24, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,555,000 loan under the Fannie Mae DUS® Small Loan product for the 86-unit complex known as 8th Street/S. Westlake in Los Angeles, CA
.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.21 percent.

The loan was originated by Ronen Abergel, (bottom right photo) Director, in Arbor’s full-service New York, NY lending office. “Timing was of the essence, so we worked at lightning speed to close this transaction for the borrower,” said Abergel

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/

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