Arbor Closes Three Fannie Mae DUS® Loans Totaling $16.1M In North Carolina

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of three loans totaling $16,110,200 under the Fannie Mae DUS® Loan, Fannie Mae DUS® Dedicated Student Housing and Fannie Mae DUS® Small Loan product lines in North Carolina:

 Legacy Park Apartments, Winston-Salem, NC (top left photo) – The 198-unit complex received $11,000,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

 Spartan Crossing, Greensboro, NC (middle right photo)– The 116-unit complex received $3,700,000 funded under the Fannie Mae DUS® Dedicated Student Housing Loan product line. The property serves students attending the University of North Carolina at Greensboro. The 10-year loan amortizes on a 30-year schedule.

Sunnybrook Apartments, Fayetteville, NC (lower left photo) – The 24-unit complex received $1,410,000 funded under the Fannie Mae DUS® Small Loan (8.3 percent Military Concentration) product line. The 10-year loan amortizes on a 30-year schedule.

The loans were originated by John Edwards, Vice President, in Arbor’s full-service Boston, MA, lending office. “Arbor’s team effort provided our clients with terms that surpassed the competition in an extremely timely manner,” Edwards said.

 “We were most pleased with the opportunity to once again demonstrate to the marketplace our focus and determination when presented with exciting financing opportunities.”

Contact:  Christopher Ostrowski, costrowski@arbor.com