Arbor Closes $2,175,000 Fannie Mae DUS® Small Loan for Forest Ridge Apartments in Milwaukie, OR

Uniondale, NY (Dec. 6, 2010) – Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,175,000 loan under the Fannie Mae DUS^® Small Loan product line for the 50-unit complex known as Forest Ridge Apartments (top left photo) in Milwaukie, OR. The 10-year loan amortizes on a 30-year schedule.

The loan was originated by Brian Scharf, (lower right photo) Director, in Arbor’s full-service Uniondale, NY, lending office.

“We were successful in locking the rate on Forest Ridge Apartments at a historical market low point, saving the borrowers several hundred basis points in debt service,” Scharf said.

 “This asset is a representation of Arbor's comfort not only in metropolitan Portland, OR, but in the surrounding suburbs as well. We look forward to continuing to grow our relationships in the Pacific Northwest.”

Contact: Christopher Ostrowski, costrowski@arbor.com