UNIONDALE, NY– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,250,000 loan under the Fannie Mae DUS® product line for the 122-unit complex known as University Apartments in East Lansing, MI.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.10 percent.
The loan was originated by Michael Jehle, (top right photo) Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI lending office.“The subject loan is secured by three non-contiguous properties all owned by the same borrowing entity,” said Jehle. “Arbor was successful in paying off the existing indebtedness and providing cash out for this repeat client.
Contact: Ingrid Principe, Iprincipe@arbor.com
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