Tuesday, December 18, 2012

Arbor Closes New England Fannie Mae Deals Totaling $20M



The Pines of West Concord, NH
UNIONDALE, NY (Dec. 18, 2012) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and a national, direct commercial real estate lender, announced the recent funding of eight loans totaling $20,019,000 across New England under the Fannie Mae Delegated Underwriting & Servicing (DUS®) Loan, Fannie Mae DUS® Small Loan and Fannie Mae DUS® ARM 7-6™ Loan product lines. These loans include:

·         Concord Portfolio, Concord, NH – This seven-property, 337-unit multifamily portfolio received a combined total of $16,325,000 funded under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines. The 10-year refinance loans amortize on 30-year schedules. The portfolio consists of the following properties:

o   Meadow Brook Apartments
66--72 Hamilton Street, Cambridge, MA

o   Pinewood Village

o   Pines of West Concord

o   Mill Place West Apartments

o   Ormond Street Apartments

o   Vineyard Terrace Apartments

o   Prescott Street Apartments
  


 66-72 Hamilton Street, Cambridge, MA – This 11-unit multifamily property received $3,694,000 funded under the Fannie Mae DUS® ARM 7-6™ Loan product line. The seven-year refinance loan amortizes on a 30-year schedule. Each apartment at 66-72 Hamilton Street includes stainless steel kitchen appliances, wood cabinets and granite countertops.

Ronen Abergel
 All of the loans were originated by Ronen Abergel, Vice President in Arbor’s New York City office.

Contact:

Christopher Ostrowski,

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