UNIONDALE, , NY- - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,275,000 loan under the Fannie Mae DUS® Small Loan product line for the 126-unit complex known as Singing Oaks (top left site map) in Denton, TX. The 10-year loan amortizes on a 25-year schedule and carries a note rate of 5.83 percent.
The loan was originated by Matthew Norman, Vice President, in Arbor’s full-service Dallas, TX lending office. “The tight deadline on the soon-to-be-retired debt added additional challenges that we were able to meet with a new Fannie Mae loan for this repeat client.”
$1,900,000 Fannie Mae DUS® Small Loan Closed for 717-719 Parker Street in Boston, MA
The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.57 percent.
The loan was originated by John Kelly, (middle right photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“This transaction represented Arbor’s continued strong presence in closing deals via our small loan program,” said Kelly. “This repeat client was able to secure long-term debt for another successfully renovated project and help us to further grow this financial partnership.”
$1.6M Fannie Mae DUS® Small Loan Completed for 6 Lincoln Street in Denver, CO
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.89 percent.
The loan was originated by Jay Porterfield, (bottom left photo) Vice President, in Arbor’s full-service Plano, TX lending office. “Arbor provided acquisition financing for this property in a strong submarket near downtown Denver, “said Porterfield. “Additionally, to enhance future cash flow, the borrower is working on plans to upgrade this already stable property.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1
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