Uniondale, NY (Nov, 11, 2009) Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $12,000,000 loan under the Fannie Mae DUS® product line to finance the 323-unit complex known as Sanctuary Apartments in Augusta, GA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.69 percent.
The loan was originated by John Edwards, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“This financing represents our ongoing effort to secure long-term relationships with strong owner/operators by providing timely execution at attractive interest rates,” said Edwards. “In addition, we are pleased to acknowledge the outstanding efforts by Jackson Howard of Carolina Mortgage who arranged this financing.”
Contact: Ingrid Principe, iprincipe@arbor.com
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