Uniondale, NY (April 8, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $638,600 loan under the Fannie Mae DUS® Small Loan product line to refinance the 8-unit complex known as Sleepy Hollow in Sleepy Hollow, NY.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.36 percent.
The loan was originated by Dan Gaylord, Director, in Arbor’s full-service Austin, TX lending office. “The sponsor initially purchased the property as an under-performing asset,” said Gaylord. “After successfully repositioning the property, we cashed him out so that he could enjoy a long-term fixed-rate note.”
Contact: Ingrid Principe, P: 516.506.4298. F: 516.542.2555, http://www.arbor.com/
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