Uniondale, NY (June 30, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $15,000,000 loan under the Fannie Mae DUS® product line for the 200-unit complex known as Continental Village Apartments in West Covina, CA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.26 percent.
The loan was originated by Greg Gillam (top right photo), Director, in Arbor’s full-service Manhattan Beach, CA lending office. “This is another example of Fannie Mae’s ability to provide low-cost financing for properties that provide affordable market rental rates,” said Gillam.
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1
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