Uniondale, NY (Aug. 26, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,707,500 loan under the Fannie Mae DUS® Small Loan product line for the 32-unit complex known as Willoughby Apartments (top left photo) in Los Angeles, CA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent.
The loan was originated by Stephen York (lower right photo), Director, in Arbor’s full-service New York, NY, lending office.
“The borrowers purchased this property in 2008 and substantially improved operations after implementing a major capital improvements plan,” York said. “We were pleased to deliver attractive financing terms. We look forward to future opportunities together.”
Contact: Christopher Ostrowski, costrowski@arbor.com
No comments:
Post a Comment