UNIONDALE, NY (May 20, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,200,000 loan under the Fannie Mae DUS® Small Loan product line for the refinance of the 20-unit complex known as Creekside Villas (top left photo) in Canyon Lake, TX.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.80 percent.
The loan was originated by Jay Porterfield, (bottom right photo) Vice President, in Arbor’s full-service Plano, TX lending office.
“Creekside Villas is a new property in the greater San Antonio area,” said Porterfield.
“The property had leased up quickly and Arbor provided a loan to refinance the Borrower’s construction/mini-permanent loan.”
Contact: Ingrid Principe, F: 516.542.2555, http://www.arbor.com/
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