Uniondale, NY (Aug. 12, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,000,000 loan under the Fannie Mae DUS® Loan product line for the 30-unit property known as the Bornt Hill Apartments (top left photo) in Endicott, NY.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.98 percent.
The loan was originated by Stephen York, (bottom right photo) Director, in Arbor’s full-service New York, NY lending office.
“The sponsor’s goals included locking in a low, long-term fixed-rate loan and use some of the proceeds toward another multifamily purchase,” said York.
“Arbor was pleased to help him reach this goal on our second transaction together and look forward to future opportunities.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
Follow us on Twitter @ arbor1
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
Follow us on Twitter @ arbor1
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