Maple Grove Apartments in Boise, ID Gets $1.25M Loan
UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,250,000 loan under the Fannie Mae DUS® Small Loan product line for the 44-unit complex known as Maple Grove Apartments in Boise, ID.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.50 percent.
The loan was originated by Jon Red, Director, in Arbor’s full-service Spokane, WA lending office. “The borrower was seeking a low, long-term fixed-rate loan on a very conservatively leveraged property,” said Red. “Arbor funded the transaction in 60 days with a very competitive rate of 5.50% for 10 yrs.
Two Las Vegas Properties Receive Total $47,493,000UNIONDALE, NY– Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $47,493,000 under the Fannie Mae DUS® MBS product line. These loans include:
La Villa Estates, Las Vegas, NV (middle left photo) – A 336-unit complex in the amount of $23,500,000 funded under the Fannie Mae DUS® MBS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.46 percent.
San Tropez Apartments, Las Vegas, NV – A 336-unit complex in the amount of $23,993,000 funded under the Fannie Mae DUS® MBS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.99 percent.
The loans were originated at Arbor’s Uniondale, NY headquarters.
Parkside Apartments in Carmichael, CA Obtains $935,000UNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $935,000 loan under the Fannie Mae DUS® Small Loan product line for the 17-unit complex known as Parkside Apartments in Carmichael, CA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.72 percent.
The loan was originated by Peter Margolin, (middle right photo) Director, in Arbor’s full-service Northbrook, IL lending office. “The borrower needed to refinance out his existing debt after acquiring the property and putting in capital to improve the asset,” said Margolin. “Arbor provided a long-term debt solution that satisfied the borrower’s needs.”
Harbor Green Apartments in Wilmington, CA Receives $11.15MUNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,150,000 loan under the Fannie Mae DUS® MBS Loan product line for the 204-unit property known as Harbor Green Apartments in Wilmington, CA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.66 percent.
The loan was originated by Greg Gillam, Director, in Arbor’s full-service Manhattan Beach, CA lending office.
Treeview Manor in Philadelphia, PA Gets $2.4MUNIONDALE, NY- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,400,000 loan under the Fannie Mae DUS® Loan product line for the 68-unit property known as Treeview Manor in Philadelphia, PA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.72 percent.
The loan was originated by Stephen York, (bottom right photo) Director, in Arbor’s full-service New York, NY lending office.“The sponsor’s loan was nearing maturity and he was looking for a lender that was comfortable providing sizeable cash out with a low long term fixed rate,” said York.
“Arbor was able to provide him with terms that exceeded his expectations; we look forward to future opportunities with this client.”
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