Arbor Commercial Funding, LLC funded three loans totaling $13.2 million under the Fannie Mae DUS product line including:
*Cumberland Green Co-op: A $8 million refinance loan for a 204-unit complex. The 30-year loan amortizes on a 30-year schedule and carries a note rate of 6.64%.
* Loma Vista West Coop, Kansas City, Mo.: $3.7 million loan for a 286-unit complex. The 30-year loan amortizes on a 30-year schedule and carries a note rate of 7.15%.
* North Pointe Apartments, East Lansing, Mich.: A $1.5 million loan for a 69-unit complex. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.23%.
The loans were originated by Michael Jehle, midwest regional director, in Arbor's Bloomfield Hills, Mich. lending office.