Uniondale, NY (Dec. 8, 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 line in Lubbock, TX. These loans include:- The Townhomes at O’Neil Terrace, Lubbock, TX (top left photo) – The 92-unit complex received $2,250,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.
Aspen Village, Lubbock, TX (middle right photo) – The 70-unit complex received $1,750,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.
- Ventura Flats, Lubbock, TX (lower left photo) – The 44-unit complex received $960,000 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 Stephen York (lower right photo), Director, in Arbor’s full-service New York, NY, lending office.
“Our clients on the Townhomes at O’Neil Terrace and Aspen Village were in contract and had a tight timeframe for closing. "We were pleased to provide them with terms that exceeded their expectations while meeting their closing deadline,” York said.
“Meanwhile, our client purchased the Ventura Flats property in distress and significantly improved both the asset quality and cash flow within a very short period of time.
"Once the property was stabilized and ready for a permanent loan, Arbor was pleased to deliver terms that accomplished our client’s financing needs.”Contact: Christopher Ostrowski, costrowski@arbor.com
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