Tuesday, May 4, 2010

Arbor Closes $1.95M Fannie Mae DUS® MAH Loan for Southside Apartments in Rocky Mount, NC


UNIONDALE, NY- - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,950,000 loan under the Fannie Mae DUS® Multifamily Affordable Housing Section 8 100 percent Project-Based HAP Contract product line for the 50-unit complex known as Southside Apartments in Rocky Mount, NC.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.12 percent.

The loan was originated by John Edwards, (top right photo)  Vice President, in Arbor’s full-service Boston, MA lending office. “This financing represents our ongoing commitment to the Fannie Mae DUS® MAH program,” said Edwards. “In addition, we were pleased with the opportunity to work with a long-term client and look forward to working with the borrower on future financings.”

Contact:  kmaxey@arbor.com

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