Uniondale, NY (Nov. 9, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,400,000 loan under the Fannie Mae DUS® Small Loan product line for the 52-unit complex known as Villa Shatto in Los Angeles, CA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.08 percent.
The loan was originated by Ronen Abergel, (top right photo) Director, in Arbor’s full-service New York, NY lending office. “This deal represents the borrower’s second transaction with Arbor and we look forward to conducting more business together in the future,” said Abergel.
Arbor Commercial Mortgage Appoints Alan Steinmetz to Associate General Counsel
As Associate General Counsel, Mr. Steinmetz directs the legal process pertaining to all Fannie Mae and FHA loan activity, manages the Closing department and is responsible for coordinating the relationships among borrowers, counsel, investors and guarantors.
Mr. Steinmetz has over 20 years of experience in real estate lending and finance; acquisitions, ownership and disposition; and workouts and restructures. He has successfully closed several billion dollars of loans covering a full array of transaction types, including conventional financings, refinancings and assumptions, taxable and tax-exempt bonds, 1031 tax-free exchanges, forward commitments and conversions.
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, iprincipe@arbor.com,
http://www.arbor.com/ Follow us on Twitter @ arbor1
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