UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,250,000 loan under the Fannie Mae DUS® Small Loan product line for the 28-unit complex known as Echo Park Apartments (top left photo) in Los Angeles, CA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.85 percent.
The loan was originated by Greg Gillam (bottom 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 apartment properties in Southern California that offer rental rates that are at or below market rents in the area,” Gillam said.
Contact: COstrowski@arbor.com
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