Uniondale, NY (April 28, 2011) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of six loans totaling $21,088,800 under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines along both the East and West Coasts:
Reve Apartments, Brooklyn, NY (top left photo) – The 34-unit complex received $8,850,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.
Gordonhurst Apartments, Montclair, NJ (top right photo)– The 65-unit complex received $3,750,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.
Berkshire Gardens, Summit, NJ (middle left photo)– The 22-unit complex received $3,000,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.
30 East Elm Street, Linden, NJ (middle right photo)– The 42-unit complex received $1,804,300 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.
Meadows Apartments II, Eureka, CA (lower left photo) – The 44-unit complex received $2,684,500 funded under the Fannie Mae DUS® Loan product line. The seven-year and seven-month loan amortizes on a 30-year schedule.
Newport Apartments, Los Angeles, CA (lower right photo) – The 18-unit complex received $1,000,000 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, Director, in Arbor’s full-service New York, NY, lending office.
“The borrowers in all six of these deals took advantage of attractive low interest rates to refinance their respective properties,” York said.
“These transactions demonstrate Arbor’s unique ability to not only finance larger deals, but, in this specific case, smaller deals that deserve equal attention from lenders, even as low as $1 million.”
Founded by Chairman and CEO Ivan Kaufman, Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in the origination of debt and equity financing and servicing for multifamily and other diverse commercial assets.
Arbor is a Top 10 Fannie Mae DUS® lender and an FHA Multifamily Accelerated Processing (MAP) lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of $7.7 billion,
Arbor is a primary commercial loan servicer and special servicer rated by Fitch Ratings and Standard & Poor’s. Arbor is also on the Standard & Poor’s Select Servicer List.
Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and direct equity investments and in limited cases, discounted mortgage notes and other real estate related assets.
Arbor is headquartered in Uniondale, NY, with full-service lending offices throughout the United States.
For more information about Arbor, visit http://www.arbor.com/
Contact: Christopher Ostrowski, costrowski@arbor.com
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