Park Place in Montgomery, AL Receives $12.9MUniondale, NY (Sept 3, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $12,900,000 loan under the Fannie Mae DUS® Loan product line for the 200-unit complex known as Park Place (top right photo) in Montgomery, AL.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.89 percent.
The loan was originated by Ronen Abergel, Director, in Arbor’s full-service New York, NY lending office. “This deal represents the borrower’s sixth transaction with Arbor and we look forward to financing more projects in the future,” said Abergel.
Green Oaks Village in Houston, TX Gets $7.5M
In Houston, TX, Arbor funded a $7,500,000 loan under the Fannie Mae DUS® Loan product line for the 380-unit complex known as Green Oaks Village in Houston, Texas.
The 10-year loan amortizes on a 25-year schedule and carries a note rate of 6.34 percent.
The loan was originated by Matt Norman, Vice President, in Arbor’s full-service Dallas, TX lending office.“This transaction, involving an experienced borrower looking for a refinance of a short-term, post-rehab acquisition loan in a challenging market, was a true Arbor and Fannie Mae team effort,” said Norman. “Ultimately, to the borrower’s satisfaction, he was able to pay off his acquisition/rehab loan within his scheduled timeframe.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, iprincipe@arbor.com
www.arbor.com.
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