Arbor Commercial Funding, LLC, recently funded four loans under the Fannie Mae DUS product line. These loans include:
*Spring Ridge Apartments, Danbury - A 138-unit complex in the amount of $15,112,500 funded under the Fannie Mae DUS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.73%.
*Park Ridge South Apartments, Danbury - A 47-unit complex in the amount of $5,400,100 funded under the Fannie Mae DUS product line. The 10-year loan amortizes on a 30-year schedule and carries a note of 5.73%.
*Mountain View Apartments, Bethel, Conn. - A 36-unit complex in the amount of $3,313,100 funded under the Fannie Mae DUS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.73%.
*Grassy Plain Estates, Bethel, Conn. - A 36-unit complex in the amount of $3,187,500 funded under the Fannie Mae DUS product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.73%.
The loan was originated by Edward Petti, director, in Arbor's full-service New York, N.Y. lending office.
"These properties, known as the BRT Danbury Portfolio, were a refinance of an existing Fannie Mae loan," said Petti. "The borrowers were eager to close and Arbor was able to do so within 25 days of issuing the application."
Founded by Chairman and CEO Ivan Kaufman, Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in the origination of debt and equity financing and servicing for multifamily and other diverse commercial real estate assets. Arbor is a top ten Fannie Mae DUS® lender and an FHA Multifamily Accelerated Processing (MAP) lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of $7.5 billion, Arbor is a rated Standard & Poor's primary commercial loan servicer and special servicer.
Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge and mezzanine loans, junior participating interests in first mortgages, preferred and direct equity investments and, in limited cases, discounted mortgage notes and other real estate-related assets. Arbor is headquartered in Uniondale, NY with full-service lending offices throughout the United States. For more information about Arbor, visit www.arbor.com.