Friday, October 8, 2010
Arbor Closes $1.8 Million Fannie Mae DUS® Small Loan for 12 Willard Street Apartments in Hartford, CT
Uniondale, NY (Oct. 8, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,800,000 loan under the Fannie Mae DUS® Small Loan product line for the 61-unit complex known as 12 Willard Street Apartments (top left photo) in Hartford, CT.
The 10-year loan amortizes on a 30-year schedule.
The loan was originated by Stephen York (lower right photo), Director, in Arbor’s full-service New York, NY, lending office.
“After completing a gut renovation and leasing up this property, our client was looking to place long-term debt on the property at an attractive interest rate,” York said.
“We were pleased to deliver on our initial terms and, additionally, lock in an interest rate nearly half a percent lower than where we started at application. We look forward to future opportunities together.”
Contact: Christopher Ostrowski, firstname.lastname@example.org