Arbor Closes $6M+ in New Fannie Mae DUS® Small Loans

Briarwood Village Apartments in Odessa, TX Gets $2.4M 

Uniondale, NY (Aug. 11, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,400,000 loan under the Fannie Mae DUS® Small Loan product line for the 74-unit complex known as Briarwood Village Apartments in Odessa, TX.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.04 percent.

The loan was originated by Stephen York (top right photo), Director, in Arbor’s full-service New York, NY, lending office.

 “We were pleased to work with the borrowers and broker on our third transaction together and deliver competitive financing terms in an overall challenging market,” York said. “We look forward to future opportunities together.”

Cedar Grove Apartments in Augusta, GA Obtains $2.76M 

Uniondale, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,760,000 loan under the Fannie Mae DUS® product line for the 126-unit complex known as Cedar Grove Apartments in Augusta, GA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.83 percent.

“We were pleased to provide this Fannie Mae DUS® loan with favorable terms in a market that has developed into a center for medical, biotechnology and manufacturing business in addition to its well-known historic golf club,” said Ken Fazio (middle right photo) , Vice President and National Sales Manager, in Arbor’s full-service Uniondale, NY, lending office.

Applegate Trails Apartments in  Klamath Falls, OR Receives $950,000

Uniondale, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $950,000 loan under the Fannie Mae DUS® Multifamily Affordable Housing product line for the 49-unit complex known as Applegate Trails Apartments in Klamath Falls, OR.

The 10-year loan amortizes on a 25-year schedule and carries a note rate of 6.19 percent.

The loan was originated by Jay Porterfield (bottom left photo), Vice President, in Arbor’s full-service Plano, TX, lending office. “Arbor funded this loan for the acquisition of the property by an experienced apartment owner,” Porterfield said.

“The property is subject to a Land Use Restriction Agreement related to tax credits and is part of Fannie Mae’s Multifamily Affordable Housing program. Arbor continues to be very active in financing affordable properties.”


Contact:  COstrowski@arbor.com