Uniondale, NY (July 8, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $3,150,000 loan under the Fannie Mae DUS® product line for the 120-unit complex known as Pine Trails Townhouses in Clinton, MS.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.90 percent.
The loan was originated by Edward Petti (top right photo), Director, in Arbor’s full-service New York, NY lending office.
“This experienced sponsor was looking to refinance an existing CMBS mortgage,” said Petti. “Other lenders were not able to be as competitive and Arbor’s experience came through, ultimately closing the deal.”
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