Uniondale, NY (July 21, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $7,780,000 loan under the Fannie Mae DUS® MBS Loan product line for the 128-unit property known as the Bridgeport Portfolio in Bridgeport, CT.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.90 percent.
The loan was originated by Stephen York, (top right photo) Director, in Arbor’s full-service New York, NY lending office.
“The goal for this client, a major multifamily owner in Connecticut, was to refinance and pull out trapped equity that could be used towards the purchase of additional multifamily properties,” said York. “We were pleased to assist the Sponsor in accomplishing his objective and we look forward to future opportunities together.”
Contact: Ingrid Principe, iprincipe@arbor.com
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