Arbor Closes Two Fannie Mae DUS® ARM Loans Totaling $4.96M

UNIONDALE, NY (June 3, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $4,960,000 under the Fannie Mae DUS® ARM Loans product line.



These loans include:

Pinewood Apartments (bottom left photo) - Arlington, TX – 111-unit complex in the amount of $3,280,000. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 4.89 percent.

Waterford Apartments - Irving, TX – 64-unit complex in the amount of $1,680,000. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 4.89 percent.

The loan was originated by Matt Norman (top right photo), Vice President, in Arbor’s full-service Dallas, TX lending office.

“On both of these loans, Arbor was able to assist the borrower in converting from short-term, recourse, acquisition debt, to longer term perm debt at very attractive rates,” said Norman.

“The non-recourse component of the Fannie program really sealed the deal for this client.”

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, iprincipe@arbor.com



http://www.arbor.com/