Spring Ridge Apartments, Danbury, CT (top left photo) – A 138-unit complex in the amount of $15,112,500 funded under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.73 percent
Park Ridge South Apartments, Danbury, CT – A 47-unit complex in the amount of $5,400,100 funded under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note of 5.73 percent.
Grassy Plain Estates, Bethel, CT – A 36-unit complex in the amount of $3,187,500 funded under the Fannie Mae DUS® product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.73 percent.
The loan was originated by Edward Petti, (top right photo) Director, in Arbor’s full-service New York, NY lending office.
“These properties, known as the BRT Danbury Portfolio, were a refinance of an existing Fannie Mae loan,” said Petti. “The borrowers were eager to close and Arbor was able to do so within 25 days of issuing the application.”
Arbor Closes $9.5M Fannie Mae DUS® Loan for Four Seasons Apartments in Raleigh, NC
UNIONDALE, NY) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $9,500,000 loan under the Fannie Mae DUS® Loan for the 244-unit complex known as Four Seasons Apartments in Raleigh, NC.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.82 percent.
Joseph Donovan, (lower right photo) Senior Vice President, Production Management, in Arbor’s full-service Boston, MA lending office said, “We were pleased to deliver a refinance loan that met the specific timing needs for our valued client.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1
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