Monday, July 19, 2010

Arbor Closes $1.5M Fannie Mae DUS® Small Loan for 800 Traction Apartments in Los Angeles, CA


Uniondale, NY --Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,500,000 loan under the Fannie Mae DUS® Small Loan product line for the 19-unit complex known as 800 Traction Apartments in Los Angeles, CA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.50 percent.

The loan was originated by Anthony Tarter (top right photo) , Director, in Arbor’s full-service Dallas, TX lending office. “We were pleased to refinance the borrower’s existing debt with a lower interest rate while generating excess proceeds,” said Tarter.

Arbor Closes $1,465,000 Fannie Mae DUS® Small Loan for 509 East 12th Street in New York, NY

Uniondale, NY (July 20, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,465,000 loan under the Fannie Mae DUS® Small Loan product line for the 12-unit complex known as 509 East 12th Street in New York, NY.

The 15-year loan amortizes on a 15-year schedule and carries a note rate of 5.88 percent.

The loan was originated by Brian Scharf, (lower left photo)  Director, in Arbor’s full-service Uniondale, NY lending office. “The borrowers are the original property developers and were very passionate about this deal,” said Scharf. “Additionally, the location and hands-on ownership made it a great refinance opportunity for Arbor as we continue to grow our small balance program.”

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1

No comments:

Post a Comment