Vintage Wood Apartments in Fresno, CA Receives $2.5M LoanUNIONDALE, NY (Aug. 31, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,500,000 loan under the Fannie Mae DUS® Loan product line to refinance the 65-unit complex known as Vintage Wood Apartments (top right map) in Fresno, CA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.94 percent.
The loan was originated by Jay Porterfield, Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor was please to refinance Vintage Wood Apartments - a solid, well-managed property in Fresno, CA, said Porterfield. “We look forward to working again with this experienced borrower.”
Bridgestone Apartments in Friendswood, TX Gets $1.95M Loan
In Friendswood, TX, Arbor brokered a $1,950,000 loan under the Fannie Mae DUS® Small Loan product line for the 76-unit complex known as Bridgestone Apartments.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.42 percent.
The loan was originated by Matt Norman, Vice President, in Arbor’s full-service Dallas, TX lending office.
“Arbor utilized the Small Loan program to provide aid to this new client’s acquisition in the challenging Houston market,” said Norman. “Though there were obstacles, ultimately, the acquisition was completed within acceptable timeframes for both the buyer and seller.”
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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