Uniondale, NY (Oct. 5, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three (3) loans under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines. These loans include:
Mountain Glen Apartments, Bend, OR (top left photo) – The 147-unit complex received $5,120,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.
Cloverfield Place Apartments, Portland, OR (middle right photo) – The 72-unit complex received $3,250,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.
Hawthorne Apartments, Portland, OR (middle left photo) – The 17-unit complex received $1,246,500 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.
The loans were originated by Brian Scharf (lower right photo), Director, in Arbor’s full-service Uniondale, NY, lending office.
“With specific regard to the Mountain Glen Apartments, we were excited to have financed a strong borrower with one of the leading residential properties in a market with significant upside,” Scharf said.
“As for the Portland properties, Cloverfield Place Apartments has benefitted from a substantial rehab and we felt strongly that the borrower added significant value by repositioning the asset. And what attracted us the most to Hawthorne Apartments was the desirable location for young professionals within close proximity to downtown Portland.”
Contact: Christopher Ostrowski, costrowski@arbor.com
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