UNIONDALE, NY, May 4, 2009 - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,130,100 loan under the Fannie Mae DUS® Small Loan product line to refinance the 48-unit complex known as Century Apartments (bottom left photo) in Hazen, ND.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.00 percent.
The loan was originated by Peter Margolin, (top right photo) Director, in Arbor’s full-service Deerfield, IL lending office. “Arbor was able to help the borrowers get out of their short-term bank loan by securing long-term debt on an asset that is core to their portfolio,” said Margolin.
Contact: Ingrid Principe
Arbor Commercial Mortgage
333 Earle Ovington Blvd., Suite 900
Uniondale, NY 11553
P: 516.506.4298
F: 516.542.2555
www.arbor.com
Arbor Commercial Mortgage
333 Earle Ovington Blvd., Suite 900
Uniondale, NY 11553
P: 516.506.4298
F: 516.542.2555
www.arbor.com
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