Butterfield Apartments in Flagstaff, AZ Receives $7.9MUNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $7,900,000 loan under the Fannie Mae DUS® Loan product line to refinance the 136-unit complex known as Butterfield Apartments in Flagstaff, AZ.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.96 percent.
The loan was originated by Jay Porterfield, (top right photo) Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor refinanced this very attractive and well-maintained property in Flagstaff with a very experienced and capable owner,” said Porterfield.
Crystal Tree Apartments in Fresno, CA Gets $5MUNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $5,000,000 loan under the Fannie Mae DUS® Loan product line for the 276-unit complex known as Crystal Tree Apartments (bottom left map) in Fresno, CA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.62 percent.
The loan was originated by Jay Porterfield, Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor had the opportunity to pick up this deal when another lender wavered,” said Porterfield. “This low leverage loan is secured by a stable property in a solid location with a strong borrower. Arbor was able to close the loan in about 30 days in order to pay off a maturing loan.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/
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