Tuesday, October 12, 2010

Arbor Closes $2,866,500 Fannie Mae DUS® Small Loan For Village Place Apartments in Mankato, MN

Uniondale, NY (Oct. 12, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,866,500 loan under the Fannie Mae DUS® Small Loan product line for the 70-unit complex known as Village Place Apartments (top left photo) in Mankato, MN.

The 10-year loan amortizes on a 30-year schedule.

 The loan was originated by Patrick McNulty (bottom right photo), Director, in Arbor’s full-service Chicago, IL, lending office.

  “This was a solid deal for our small balance program,” McNulty said. “It was a zero-cash-out refinance with a high-quality asset and strong sponsorship.”

Contact:  Christopher Ostrowski, costrowski@arbor.com

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