UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $11,200,000 loan under the Fannie Mae DUS® product line for the 168-unit complex known as Blackwolf Run in Raleigh, NC.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.75 percent.
The loan was originated by Alexander Kaushansky, (top right photo) Director, in Arbor’s full-service New York, NY lending office.
“Due to the borrower’s prepayment penalty on the original loan, the borrower requested an early rate lock,” said Kaushansky. “Our capital markets team was able to lock the loan 60 days in advance, allowing the borrower to meet his timeline and also take advantage of the low interest rate environment.”
Contact: Ingrid Principe, Marketing, Arbor Commercial Mortgage, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1
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