Uniondale, NY (July 15, 2009) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,239,700 loan under the Fannie Mae DUS® product line for the 116-unit complex known as Riverside Townhomes Coop in Riverside, MO.The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.23 percent.
The loan was originated by Michael Jehle, (top right photo) Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI lending office.
“The members of this cooperative were interested in tapping their cash equity to invest in significant capital improvements to their property,” said Jehle.
“We were able to fully meet their expectations, including the decoupling of their 236 mortgage for maximum proceeds.”
Contact: Ingrid Principe, Iprincipe@arbor.com
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