Arbor Closes Multifamily Loans in Oregon, Indianapolis and California

Two Fannie Mae DUS® Loans Totaling $6,991,200 Closed at Springfield, OR

UNIONDALE,  NY – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $6,991,200 under the Fannie Mae DUS® product line. These loans include:

Centennial Apartments, Springfield, OR – A 118-unit complex in the amount of $3,500,000 funded under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.54 percent.

Chalet Apartments, Springfield, OR – An 83-unit complex in the amount of $3,491,200 funded under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.54 percent.

The loans were originated by Yogesh Joshi, (top right photo)  Director, in Arbor’s full-service Woodland Hills, CA lending office.

 “Arbor successfully refinanced the existing Fannie Mae loans for a highly experienced and repeat Fannie Mae borrower,” said Joshi. “Both properties are well-maintained with stable operating histories.”

Arbor Closes $600,000 Fannie Mae DUS® Coterminous Supplemental Loan Closed for Mayfield Green Cooperative in Indianapolis

Uniondale, NY (January 19, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $600,000 loan under the Fannie Mae DUS® Coterminous Supplemental Loan product line for the 344-unit complex known as Mayfield Green Cooperative in Indianapolis, IN.

The 26.5-year loan amortizes on a 26.5-year schedule and carries a note rate of 7.17 percent.

The loan was originated by Michael Jehle,  (middle right photo) Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI lending office.

“The members of Mayfield Green Cooperative were interested in acquiring funds for capital improvements in the form of a second mortgage on top of our original loan made to them in October 2005, and Fannie Mae’s Supplemental Loan Program worked perfectly for their needs,” said Jehle.

“This loan was structured to amortize in full through 2035, exactly when their first mortgage will also amortize to zero.”

Two Fannie Mae DUS® Loans Totaling $4M Closed in El Cajon, CA

UNIONDALE, , NY (Jan.20, 2010) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans totaling $4,000,000 under the Fannie Mae DUS® Small Loan product line. These loans include:

Ballantyne Villas, El Cajon, CA – A 31-unit complex in the amount of $2,000,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.41 percent.

Portofino Apartments, El Cajon, CA – A 40-unit complex in the amount of $2,000,000 funded under the Fannie Mae DUS® Small Loan product line. The

10-year loan amortizes on a 30-year schedule and carries a note rate of 5.41 percent.

The loans were originated by Greg Gillam, (bottom right photo)  Director, in Arbor’s full-service Manhattan Beach, CA lending office.

 “These transactions represent Arbor’s continued strong ability to close loans via our Fannie Mae Small Loan program,” said Gillam. “We were pleased to provide this new client with long-term debt at a low interest rate that allowed them to pay off their existing interim bank financing.”

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