UNIONDALE, NY (Feb.26, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,127,600 loan under the Fannie Mae DUS® product line for the 64-unit complex known as Avalon Apartments in Augusta, GA. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.15 percent.
The loan was originated by John Edwards, (top right photo) Vice President, in Arbor’s full-service Boston, MA lending office. “We were pleased with the opportunity to provide financing for a repeat client of Arbor,” said Edwards. “The property is well-positioned in the market and we look forward to future opportunities with this long-term client.”
$4.62M Loan Closed for Cloverly Park Apartments in Philadelphia, PA
UNIONDALE,, NY (Feb. 26, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,620,000 loan under the Fannie Mae DUS® Loan product line for the 52-unit complex known as Cloverly Park Apartments in Philadelphia, PA.
The loan was originated by John Kelly, (bottom left photo) Vice President, in Arbor’s full-service Boston, MA lending office. “Arbor was pleased to provide permanent financing on this recently renovated asset, which benefited from the client’s excellent job during the construction,” said Kelly.
“We look forward to working on other similar projects that are currently underway in the same market.”
Contact: Kelly Maxey, KMaxey@arbor.com
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