UNIONDALE, NY (Nov. 6, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,200,000 loan under the Fannie Mae DUS® product line to finance the 102-unit complex known as Marsh Highland Apartments in Carrollton, TX.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.54 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 a great opportunity to provide low leverage at an attractive rate for a strong owner/operator,” said Edwards. “In addition, we recognize the continuing efforts of our long-term relationship with Fred Vogell of Mortgage Resources in orchestrating this financing.”
Contact:
Ingrid Principe, P: 516.506.4298, F: 516.542.2555, iprincipe@arbor.com, http://www.arbor.com/
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