Brush Meadows in Billings, MT Obtains $1.73M Loan
Uniondale, NY (July 17, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,160,000 loan under the Fannie Mae DUS® Loan product line for the 87-unit property known as the Dundalk Apartments (middle left photo) in Dundalk, MD.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.69 percent.
The loan was originated by Stephen York, Director, in Arbor’s full-service New York, NY lending office. “The borrower purchased this property in distress and significantly improved its operations over a two-year period,” said York. “Once the property was ready for permanent financing, Arbor was pleased to deliver long-term fixed-rate financing with extremely attractive terms.”
Uniondale, NY (July 17, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,730,000 loan under the Fannie Mae DUS® MAH Loan product line for the 60-unit complex known as Brush Meadows in Billings, MT.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.90 percent.
The loan was originated by Jon Red, (top right photo) Director, in Arbor’s full-service Spokane, WA lending office. “The borrower was under a tight deadline since this was a purchase transaction of LIHTC deal,” said Red. “Arbor completed its due diligence in 50 days, meeting the borrower’s timeframe.”
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.90 percent.
The loan was originated by Jon Red, (top right photo) Director, in Arbor’s full-service Spokane, WA lending office. “The borrower was under a tight deadline since this was a purchase transaction of LIHTC deal,” said Red. “Arbor completed its due diligence in 50 days, meeting the borrower’s timeframe.”
Dundalk Apartments in Dundalk, MD Receives $4.16M Loan
Uniondale, NY (July 17, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,160,000 loan under the Fannie Mae DUS® Loan product line for the 87-unit property known as the Dundalk Apartments (middle left photo) in Dundalk, MD.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.69 percent.
The loan was originated by Stephen York, Director, in Arbor’s full-service New York, NY lending office. “The borrower purchased this property in distress and significantly improved its operations over a two-year period,” said York. “Once the property was ready for permanent financing, Arbor was pleased to deliver long-term fixed-rate financing with extremely attractive terms.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
No comments:
Post a Comment