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Finance
Posted: August 13, 2009
York of Arbor completes $7.78 million financing for Bridgeport Portfolio
Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, recently completed the funding of a $7.78 million loan under the Fannie Mae DUS MBS Loan product line for the 128-unit property known as the Bridgeport Portfolio.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.9%.
The loan was originated by Stephen York, director, in Arbor's full-service New York, NY lending office. "The goal for this client, a major multifamily owner in Connecticut, was to refinance and pull out trapped equity that could be used towards the purchase of additional multifamily properties," said York.
"We were pleased to assist the Sponsor in accomplishing his objective and we look forward to future opportunities together."
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Finance
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Quick Hits
Columns and Thought Leadership
Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer
Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
Are appraisers on the same page as the assessor? - by Richard Seman
The purpose of this article is to address problematic or confusing issues which may help assessors and appraisers to better understand how to value real estate for tax assessment purposes.
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
