Tilt-Con Starts Work on Flagler's SouthPark Building in Orlando

ORLANDO, FL – Altamonte Springs-based Tilt-Con Corporation is well under way on Flagler Development Group’s new 155,560-square-foot SouthPark Building 1500 office facility (top left site map) at 9400 SouthPark Center Loop, Orlando, FL, under its contract with Brasfield & Gorrie, Lake Mary, FL.

Selected for its unrivaled performance and speed of execution, Tilt-Con utilizes its economical system for tilt-up concrete walls.

Ranked as Florida’s largest tilt-up concrete constructor by Southeast Construction magazine, Tilt-Con’s scope of work includes foundations, slab-on-grade and tilt-up concrete wall panels. Designed by HuntonBrady Architects, Orlando, the project is slated for completion in December 2008.

Firm starts work on School District of Osceola County's new 2-story, 113,903-SF Elementary School "M" in St. Cloud, FL

ST. CLOUD, FL – Altamonte Springs-based Tilt-Con Corporation is under way on the School District of Osceola County’s new 2-story, 113,903-square-foot Elementary School “M” at 2690 Narcoossee Road, St. Cloud, FL.

Selected by W.G. Mills, St. Cloud, FL. Tilt-Con’s scope of work includes foundations, slab-on-grade and tilt-up concrete wall panels, and is slated for completion in December 2008. Designed by SchenkelShultz Architecture, Orlando, the project consists of a 2-story building, chiller yard and command vehicle shelter.

Tilt-Con ranked as 30th largest privately-held company in Central Florida

ORLANDO, FL – Altamonte Springs-based Tilt-Con Corporation is prominently ranked as the 30th largest privately-held company in Central Florida according to Orlando Business Journal’s annual Golden 100 survey published September 19. The company, which reported 2007 revenues of $100 million, was recognized at the 2008 Golden 100 Ultimate CEOs luncheon that drew over 600 attendees at the JW Marriott Hotel in Orlando, FL.

Asked for the key to growing a healthy business, Tilt-Con chairman Robert W. Theisen, Jr.(top right photo) stated “Hiring and retaining the right people and having the right vision for the future.”

He said that his greatest business accomplishment is turning the company into one of the largest of its kind in America and helping to transform Florida into one of the largest tilt-up markets in the country.

Theisen continued, “Tilt-Con started as a small tilt-up construction company and has expanded into a statewide construction company comprised of various offices and more than 500 employees. Last year we doubled our revenue, and we continue to do exceptionally well despite the down economy. Tilt-Con is also the most awarded company in America by the Tilt-Up Concrete Association.”

Contact: Kenneth H. Cristol 407-774-2515

Smith Equities Real Estate Investment Advisors Sells 96 Unit Whitney Groves Apartments in Orlando

ORLANDO, FL – Smith Equities Real Estate Investment Advisors recently represented the seller in the sale of the 96 Unit Apartment community known as Whitney Groves (middle centered photo) in Orlando Florida.

According to Robert E. Smith, (top right photo) CCIM, founder of Smith Equities Real Estate Investment Advisors, “Demand for Apartment investment properties on Orlando remains high. (Downtown Orlando view, top left)

"Investors realize that this region remains strong for apartment investments due to it’s being the center of the nation’s simulation industry, a world leader in the science of photonics and the field of financial software and now it’s emerging as a hub for entertainment technology and bioscience research.”

The 96 unit Whitney Groves Apartments located in South East Orlando Florida sold for $3,800,000. The buyer was PMF Enterprises, CF Inc. which is a privately owned investor who owns and manages 3 Apartment Communities in Orlando.

Buena Vista Partners, LTD was the seller and was exclusively represented by Robert E. Smith, CCIM, President and founder of Smith Equities Real Estate Advisors.

Whitney Groves Apartments consists of (48) Efficiencies averaging 318 SF, 24 one bedroom one bath units averaging 520 SF and (24) two bedroom one bath units averaging 960 SF.

"This was an excellent opportunity for the buyer to expand their operations in the Orlando market with a quality asset priced well below its replacement costs. We expect the 4th quarter of 2008 and 2009 to be a very active year in multifamily transactions as more investors recognize the unique opportunities the market offers" said Smith.

About Smith Equities:

Founded in 1990, Smith Equities Real Estate Investment Advisors (SEREIA) is a leader in apartment sales and financing throughout Florida with investment sales and financing of over 22,518 Apartments in 159 deals.

SEREIA sold some of the first condo conversions in Florida and is now focused on helping banks understand and dispose of non performing assets tied to condominium conversions. For more information, please go to their website at www.amecs.com or call them at (407)422-0704.

For more information, please contact Robert E. Smith, 407.422.0704, ext. 101, res@amecs.com

SPECIAL REPORT: RECI Notes Good and Bad News in Real Estate Capital Marketplace

CHICAGO, IL, Oct. 1, 2008 – It’s a good news/bad news real estate capital marketplace.

Mortgage markets are plagued by Wall Street (top right photo) market malaise and swooning prices, yet as far as commercial real estate debt is concerned, overall default rates and profit performance remain at historically favorable levels.

Funding sources and borrowers alike are very selectively funding and acquiring projects as re-pricing opportunities emerge in the wake of one of the nation’s worst financial crisis.

Dramatic market volatility created by major financial institutions failing along with selective governmental bailouts, wrecks havoc with real estate capital markets with some key trends developing, including:

--Skyrocketing Libor pricing (with rate premiums) now closely reflects domestic Bank Prime rates.

--Funding availability is the primary factor within the lending sector, surpassing pricing and leverage as key variables.

--Numerous balance-sheet lenders are temporarily suspending quoting on new transactions as market re-pricing continues (e.g. “catching a falling knife” syndrome)

--More funding sources are returning to pricing loans based on absolute net yields vs. spreads.

--New construction commercial-property financing is nearly at a halt, unless a substantial preleasing is available to credit tenants with preleasing required positive debt service coverage.

--Lending remains extremely restrictive, particularly for non-conventional property types such as lodging. Special-purpose and recreational properties.

--Commercial properties (retail, office and industrial) conservatively financed with maximum leverage of 65% based on capitalization rates in the higher single-digit range.

--Multifamily properties remain the most desirable and attractively priced funding opportunities in the capital markets as leverage levels remain close to historical norms and pricing spreads are in the mid-200 basis point range over comparable-term Treasuries.

--Government bodies including Freddie Mac, Fannie Mae and FHA/HUD continue providing competitively-priced mortgages for this sector.

--Borrowers are bridging equity gap by providing personal guarantees an additional collateral, perfectly with commercial banks

--Buyers and borrowers who are active in closing deals are rich with liquidity. Many use recourse and additional collateral to successfully finance projects.

Mortgage pricing is, at best, a “guessing game” as many lenders remain on the sidelines.

Nevertheless, overall mortgage pricing for different types of is shown below based on the most common commercial property types graded by Credit and Class A-B-C subcategories: (Chart source at right: Real Estate Capital Institute)

According to Jeff Davis, advisory board member of the Real Estate Capital Institute, “Except for select Agency programs such as FHA/HUD, most funding sources are waiting for more clear market signals for the remainder of the year.”

He adds, “Active lenders seem to have met their allocation goals as funds continue drying up within the securitized lending sector.”

ABOUT US:

The Real Estate Capital Institute® is a volunteer-based research organization that tracks realty rates data for debt and equity yields. The Institute posts daily and historical benchmark rates including treasuries, bank prime and LIBOR. Furthermore, call the Real Estate Capital RateLine at 7RE-CAPITAL (773-227-4825) for hourly rate updates.

CONTACT:

The Real Estate Capital Institute®
3517 West Arthington Street
Chicago, Illinois USA 60624
Contact: Nat Zvislo, Research Director
Toll Free 800-994-RECI (7324)
director@reci.com /

http://www.reci.com/

HFF closes sale of Fossil Creek Shopping Center in Fort Worth, TX

DALLAS, TX – The Dallas office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of Fossil Creek Shopping Center, (top right photo) a 68,492-square-foot retail center in Fort Worth, Texas.

The HFF investment sales team was led by senior managing director Jim Batjer (top left photo) and managing director Adam Howells (bottom right photo) who represented the seller, Dunhill Partners, Inc.

Sandstone Fossil Creek Associates, LLC purchased Fossil Creek for an undisclosed amount and assumed an existing $8.64 million loan on the center. Midland was the servicer.

Situated on a 6.4-acre site, Fossil Creek Shopping Center is located at 4296 – 4398 Western Center Boulevard and 6401 Beach Street adjacent to The Golf Club at Fossil Creek, and close to Interstate 35 West and Interstate Highway 820 in Fort Worth.

The property is shadow-anchored by Albertson’s and is currently 98% leased to tenants including Family Dollar, Card & Party Factory, Cato, Starbucks and H&R Block.
Dunhill Partners specializes in commercial real estate sales, leasing and management in Dallas and Fort Worth.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Jim C. Batjer, HFF Senior Managing Director, 214 265 0880, jbatjer@hfflp.com

Adam T. Howells, HFF Managing Director, 214 265 0880, ahowells@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

HFF secures construction/permanent financing for development of Silicon Valley Courtyard by Marriott Hotel

SAN DIEGO, CA – The San Diego office of HFF (Holliday Fenoglio Fowler, L.P.) has secured construction/permanent financing for the development of a 162-key Courtyard by Marriott Hotel in the Silicon Valley area of California.

Working on behalf of Huntington Hotel Group, HFF senior managing director Tim Wright (top right photo) and associate director Zach Koucos (top left photo) placed the 12-year loan with a fund advised by the U.S. real estate business of UBS Global Asset Management.

Huntington Hotel Group is a developer and manager of a portfolio of Marriott and Hilton select service brands.

Due for completion in December 2009, this Courtyard by Marriott will have seven stories and 95,000 square feet. The property is located at 655 Creekside Way, directly adjacent to Highway 17, in the city of Campbell, a southwestern suburb of San Jose.

“This new Marriott will capture demand from both business and leisure travelers as it is situated in the upscale community of Campbell, near the heart of Silicon Valley,” said Wright.
“Well positioned, just north of the East Campbell Avenue Master Plan Redevelopment Zone, the site benefits from its close proximity to the San Jose
International Airport, Downtown San Jose and Interstates 280 and 880,” added Koucos.



HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Timothy D. Wright, HFF Senior Managing Director, 858 552 7690, twright@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

Sale of six-building office portfolio in south Houston closed by HFF

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of a six-building, 225,859-square-foot office portfolio in the NASA/Clear Lake submarket of Houston, Texas.

The HFF investment sales team was led by senior managing director Dan Miller (bottom left photo) and associate director Marty Hogan,(middle right photo) who represented the seller, KBS Realty Advisors.

The properties were purchased by John Cole of Twenty Twenty Properties, Inc. for an undisclosed amount. Twenty Twenty Properties owns, manages and leases 20 office buildings in the Houston area.

HFF managing director Susan Hill (top left photo) arranged financing for the purchase through Viewpoint Bank.

“The marketing campaign had just begun when a very compelling preemptive offer was received and the ownership decided to take it,” said Miller.

The properties are located in south Houston near NASA, approximately 20 miles southeast of the central business district. Individual property details are listed below.
Armand Plaza (top right photo)– 16441 Space Center Boulevard 64,000 Square Feet 100%, Four Buildings

Camino Center I – 17629 El Camino Real 81,108 Square Feet 92.1%

Camino Center II – 17625 El Camino Real 80,751 Square Feet 74.7%

KBS Realty Advisors is a private equity real estate company and SEC-registered investment advisor founded in 1992 by Peter Bren and Chuck Schreiber.

CONTACTS:

H. Dan Miller, CCIM, SIOR, HFF Senior Managing Director, 713 852 3500, dmiller@hfflp.com

Martin T. Hogan, HFF Associate Director, 713 852 3500, mhogan@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

HFF arranges loan bringing total financing to $100.72M for third phase of Southern California multifamily community

IRVINE, CA – The Orange County office of HFF (Holliday Fenoglio Fowler, L.P.) has secured $13.27 million in financing for the third phase of Homecoming at Terra Vista, (above centered photo) a Class A multifamily community in Rancho Cucamonga, California. This phase includes 80 units that were completed in 2007.

Working exclusively on behalf of Lewis Operating Corp. and one of its affiliates, HFF senior managing director Don Curtis (top right photo) placed the 14-year fixed-rate loan with Freddie Mac (Federal Home Loan Mortgage Corporation). HFF arranged the financing for Phase I and II of the property in 2005 and 2007 through Wachovia Multifamily Capital.

Total funding for all three loans is $100.72 million. Lewis Operating Corp. is a real estate developer specializing in California and Nevada.

The property is situated on 39.07 acres at 11660 Church Street within the master planned community of Terra Vista in Rancho Cucamonga. Homecoming at Terra Vista features 15 different one-, two- and three-bedroom apartment, townhouse and villa floor plans.

Units average 1,050 square feet each and have full-size washer/dryers, walk-in closets and one- or two-car attached garages. Community amenities include a pool, fitness center, children’s play area, business center, theatre, game room and library.

HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing. http://www.hfflp.com/.

CONTACTS:

Donald J. Curtis, HFF Senior Managing Director, 949 253 8800, dcurtis@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com

Taubman Asia Announces Samsung Tesco Homeplus as Second Anchor for Korea's Songdo IBD Shopping Center

BLOOMFIELD HILLS, MI, Sept. 30 /PRNewswire-FirstCall/ -- Taubman Asia, a subsidiary of U.S. mall REIT, Taubman Centers, Inc. (NYSE:TCO), today officially announced that hypermarket giant, Tesco Homeplus, has signed to be the second anchor at the shopping center (top right photo) at Songdo International Business District (Songdo IBD), a 1,500-acre city being constructed in Incheon, Korea.

Songdo IBD is being developed by New York headquartered Gale International and Korea's POSCO E&C in a 70/30 joint venture

"This is the second anchor deal to be completed for Songdo Shopping Center, following the Lotte Department Store announcement in April.

"We are very excited to have secured another leading retailer for the project, further adding to the momentum as we move closer to creating a world class retail and lifestyle destination that will be an international landmark for Korea," said Morgan Parker, (middle left photo) president of Taubman Asia, the manager and developer of Songdo Shopping Center.

"The two story hypermarket, which is to be built on block A1, will cover approximately 21,276sqm (230,000 sq. ft.) of gross leasable space and will add another crucial dimension to what will be a truly remarkable international shopping center," he added.

The two-level enclosed shopping center, designed by globally renowned architect Daniel Libeskind with interior design by Benoy, will be the first of its kind in Korea, created as an integrated space that includes Lotte Department Store. (middle right photo)

The shopping hub of Songdo IBD will also feature Tesco Homeplus hypermarket, a multiplex cinema, a food emporium, an ice rink, and approximately 150 specialty stores.

CONTACTS: Barbara Baker, Vice President, Investor Relations,+1-248-258-7367, bbaker@taubman.com,

Karen Mac Donald, Director,Communications, +1-248-258-7469, kmacdonald@taubman.com,

both of TaubmanCenters, Inc.;

Pamela So, Weber Shandwick, Hong Kong, +852-2533-9916, pso@webershandwick.com;

Phillip Anderson, News Communications, Korea,+82-2-6323-5050, phillip.anderson@newscom.co.kr;

Hyewon Chang, GaleInternational - Domestic-ROK, +82-2-6260-3353, hwchang@galeintlkorea.com,

MaryLou DiNardo, Gale International-U.S. and International, +1-212-909-0340,tkpr1@aol.comWeb site: http://www.taubman.com/http://www.songdo.com/

SPECIAL REPORT: Continued Record Home Price Declines, According to the S&P/Case-Shiller Home Price Indices

NEW YORK, Sept. 30, 2008 – Data through July 2008, released today by Standard & Poor’s for its S&P/Case-Shiller[1] Home Price Indices, the leading measure of U.S. home prices, shows continued record declines and a continuation in the trend of double digit declines across many cities in the prices of existing single family homes across the United States.

[1] Case-ShillerÒ and Case-Shiller IndexesÒ are registered trademarks of Fiserv, Inc.

(Top right photo, David M. Blitzer, chairman, Index Committee, Standard & Poor's.)

The chart above depicts the annual returns of the 10-City Composite and the 20-City Composite Home Price Indices. The indices reached new record annual declines of 17.5% and 16.3%, respectively.

The 10-City level marked its 10th consecutive monthly report of a record decline, beginning with data reported for October 2007. As depicted on the chart above, during the 1990-92 cycle the record low was -6.3%.

While the annual returns of the two indices continue to reach record lows, the pace of the decline has slowed, particularly over the last three months. For the three months of May thru July, home prices cumulatively fell about 2.2%; whereas for the three months of February thru April, and November 2007 thru January, the cumulative rates of decline were closer to 6.0-6.5%.

“There are signs of a slow down in the rate of decline across the metro areas, but no evidence of a bottom,” says David M. Blitzer, (top right photo) Chairman of the Index Committee at Standard & Poor’s.

“Little positive news can be found when cities like Las Vegas and Phoenix report annual declines as large as -29.9% and -29.3%, respectively, and all 20 cities are still in negative territory on a year-over-year basis.

"The Sunbelt continues to be the story, with the seven cities that basically represent that area reporting annual declines roughly between 20 and 30%.

"While some cities did show some marginal improvement over last month’s data, there is still very little evidence of any particular region experiencing an absolute turnaround.”

(Rialto Bridge at Venetian Resort, Las Vegas, middle left photo)

While there are differences across regions, at the national level the housing market peaked around June/July of 2006. As of July 2008, two years later, the 10-City Composite has fallen by a total of 21.1% and the 20-City Composite is down 19.5%.

Las Vegas remains the weakest market, reporting an annual decline of 29.9%, followed by Phoenix and Miami at -29.3% and -28.2%, respectively.

Atlanta, (Atlanta skyline, middle right photo) Dallas, Minneapolis and Tampa showed improvements in their annual and monthly returns, but all four are still too close to their recent lows to determine if the markets have stabilized.

While their annual returns are negative, Atlanta, Boston, Dallas, Denver and Minneapolis all reported positive returns for the three months or more.

The table below summarizes the results for July 2008. The S&P/Case-Shiller Home Price Indices are revised for the 24 prior months, based on the receipt of additional source data. More than 20 years of history for these data series is available, and can be accessed in full by going to http://www.homeprice.standardandpoors.com/

The S&P/Case-Shiller Home Price Indices are published on the last Tuesday of each month at 9:00 am ET. They are constructed to accurately track the price path of typical single-family homes located in each metropolitan area provided.

Each index combines matched price pairs for thousands of individual houses from the available universe of arms-length sales data. The S&P/Case-Shiller National U.S. Home Price Index tracks the value of single-family housing within the United States.

The index is a composite of single-family home price indices for the nine U.S. Census divisions and is calculated quarterly. The S&P/Case-Shiller Composite of 10 Home Price Index is a value-weighted average of the 10 original metro area indices.

The S&P/Case-Shiller Composite of 20 Home Price Index is a value-weighted average of the 20 metro area indices. The indices have a base value of 100 in January 2000; thus, for example, a current index value of 150 translates to a 50% appreciation rate since January 2000 for a typical home located within the subject market.

(Dallas skyline, bottom right photo)

These indices are generated and published under agreements between Standard & Poor’s and Fiserv, Inc.The S&P/Case-Shiller Home Price Indices are produced by Fiserv, Inc.

In addition to the S&P/Case-Shiller Home Price Indices, Fiserv also offers home price index sets covering thousands of zip codes, counties, metro areas, and state markets. The indices, published by Standard & Poor's, represent just a small subset of the broader data available through Fiserv.

(Tampa, FL skyline, bottom left photo)

For more information, please contact: David Blitzer, Chairman of the Index Committee,
Standard & Poor’s, 212 438 3907,
david_blitzer@standardandpoors.com

David Guarino, Communications, Standard & Poor’s, 1 212 438 1471
dave_guarino@standardandpoors.com

Ramada Brand Opens First Property in Lebanon

PARSIPPANY, N.J. (Sept. 30, 2008) – Ramada Worldwide today announced the opening of the brand’s first property in Lebanon.

The 99-room Ramada Beirut Downtown (top right photo) is located in the heart of Beirut, Lebanon, and is a ten minute drive from Beirut Rafic Hariri International Airport. Features include a signature restaurant and lounge and meeting space capable of accommodating up to 70 guests.

Wyndham Hotel Group, one of three principal components of Wyndham Worldwide Corporation (NYSE: WYN), encompasses nearly 7,000 hotels representing more than 581,000 rooms in 65 countries on six continents under the Wyndham®, Ramada®, Days Inn®, Super 8®, Wingate® by Wyndham, Baymont Inn & Suites®, Microtel Inns and Suites®, Hawthorn Suites®, Howard Johnson®, Travelodge®, Knights Inn® and AmeriHost Inn® brands.

All hotels are owned individually and operated independently or by Wyndham Hotel Management. Wyndham Hotel Group is based in Parsippany, N.J. Additional information is available at http://www.wyndhamworldwide.com/.

CONTACT: Christine Da Silva, Director, Media Relations, Wyndham Hotel Group, 1 Sylvan Way, Parsippany, NJ 07054. PH (973) 753-6590 christine.dasilva@wyndhamworldwide.com

Arbor Closes Loans Totaling $19M in Kansas, Boston Area and California

Arbor Closes $12.1M Fannie Mae DUS® Loan on Cypress Gates in Marina, CA

UNIONDALE, NY – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $12,100,000 loan under the Fannie Mae DUS® product line to refinance the 134-unit complex known as Cypress Gates (top right photo) in Marina, CA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.40 percent.

. The loan was originated by Patrick McGovern, (top left photo) Director, in Arbor’s full-service New York, NY lending office. “Arbor was pleased to provide cash-out refinancing in excess of $3 million to a first-time borrower with extensive experience in the market, allowing them to invest in future opportunities,” said McGovern.

Arbor Closes $1,929,100 Fannie Mae DUS® Small Loan on Tiffany Terrace Apartments in Boston/Dorchester, MA

UNIONDALE, NY – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,929,100 loan under the Fannie Mae DUS® Small Loans product line to refinance the 39-unit complex known as Tiffany Terrace Apartments in Boston/Dorchester, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.32 percent.

The loan was originated by John Kelly, (middle left photo) Director, in Arbor’s full-service Boston, MA lending office. “Arbor was pleased to refinance this transaction on behalf of the long-term owner,” said Kelly. “The property has an excellent track record of being well managed and maintained. We look forward to growing our financial partnership with this first time Arbor client.”

Arbor Closes $4.6M Fannie Mae DUS® Loan on Carriage House in Topeka, KS

UNIONDALE, NY, Sept. 30, 2008 – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,600,000 loan under the Fannie Mae DUS® product line to refinance the 282-unit complex known as Carriage House (middle right photo) in Topeka, KS.

The 7-year loan amortizes on a 30-year schedule and carries a note rate of 6.23 percent.

The loan was originated by Ronen Abergel, Director, (bottom left photo) in Arbor’s full-service New York, NY lending office. “This deal was turned down by a local bank in Kansas,” said Abergel. “However, we were able to work through the issues and close the loan within 30 days.”

Contact: Ingrid Principe, iprincipe@arbor.com, Tel: (516) 506-4298