Uniondale, NY (July 20, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,600,000 loan under the Fannie Mae DUS® Small Loan product line for the 16-unit property known as Pioneer Villas in Bakersfield, CA.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.89 percent.
The loan was originated by Peter Margolin, (top right photo) Director, in Arbor’s full-service Northbrook, IL lending office.
“The borrower was looking to take out his construction financing as the loan was maturing, and Arbor was able to provide a loan that met the borrower’s long term hold expectations,” said Margolin.
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, www.arbor.com
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