Uniondale, NY (August 3, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,815,000 loan under the Fannie Mae DUS® Small Loan product line for the 54-unit complex known as Belvedere Gardens in Baltimore, MD.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.83 percent.
The loan was originated by Edward Petti, (top right photo) Director, in Arbor’s full-service New York, NY lending office. “We are seeing acquisition activity picking up in the marketplace,” said Petti. “Arbor understands fully the demands of a client in an acquisition situation; in this case, it was particularly critical to be there for the client and make accommodations to facilitate this closing.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
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