UNIONDALE, NY (Jan. 8, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,750,000 loan under the Fannie Mae DUS® COOP (MAH) product line for the 100-unit complex known as Quail Valley Cooperative in Lenexa, KS.
The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.57 percent.
The loan was originated by Michael Jehle, (top left photo) Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI lending office.
“The members of this cooperative have big plans for the renovation of their property through this refinance,” said Jehle. “They also received additional loan dollars from Arbor through the successful decoupling of their IRP payments to further enhance this capital improvement project.”
UNIONDALE, NY (Jan. 8, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,420,000 loan under the Fannie Mae DUS® Small Loan product line for the 16-unit complex known as Chateau Court Duplexes in Moore, OK.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.84 percent.
The loan was originated by Jay Porterfield, (bottom right photo) Vice President, in Arbor’s full-service Plano, TX lending office. “This was a very solid property that is well-leased to a stable tenant base,” said Porterfield. “Arbor was pleased to provide a rate and term refinance for this borrowing group to pay off their existing construction/mini-permanent bank loan.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1
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