Arbor Closes Two Mt. Pleasant, MI, Fannie Mae DUS® Dedicated Student Housing Loans Totaling $11,500,000

Uniondale, NY (Nov. 8, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of two (2) loans under the Fannie Mae DUS® Dedicated Student Housing Loan product line. These loans include:

• Jamestown Apartments, Mt. Pleasant, MI (top left photo) – The 457-unit student housing complex received $9,400,000 funded under the Fannie Mae DUS® Dedicated Student Housing product line. The 10-year loan amortizes on a 25-year schedule.

• West Campus Village, Mt. Pleasant, MI (middle right photo)--42-unit student housing complex received $2,100,000 funded under the Fannie Mae DUS® Dedicated Student Housing product line. The 10-year loan amortizes on a 25-year schedule.

Both properties serve the Central Michigan University student community in Mt. Pleasant, MI. Central Michigan has a student population totaling more than 21,000.

The loans were originated by Michael Jehle, (bottom left photo), Midwest Regional Director, in Arbor’s full-service Bloomfield Hills, MI, lending office.

  “Both loans were funded under Fannie Mae’s Dedicated Student Housing Loan program and resulted in excellent long-term financing to pay-off the borrower’s short-term bank financing,” Jehle said.

 “The owners were first time Arbor and Fannie Mae borrowers and were very pleased with the ease of the entire loan process.”

Contact:  Christopher Ostrowski, costrowski@arbor.com