Arbor Closes $2MFannie Mae DUS® MHC Loan for Quail Trails Village in Paradise, CA

Uniondale, NY (Aug. 19, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,000,000 loan under the Fannie Mae DUS® Manufactured Housing Community (MHC) product line for the 99-unit complex known as Quail Trails Village in Paradise, CA. (top left photo)

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.75 percent.

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

 “Despite Fannie Mae’s high standards for manufactured housing, the high-quality asset, with its strong, long-term ownership, was well received and we delivered the terms that the borrower wanted,” Scharf said.

Arbor Closes Two Fannie Mae DUS® Small Loans Totaling $2,615,000

Uniondale, NY (Aug. 19, 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® Small Loan product line. These loans include:

Sandpiper, McKinleyville, CA (middle left photo – The 28-unit complex received $1,430,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent.

Bates Court Apartments, McKinleyville, CA – The 20-unit complex received $1,185,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95 percent.

The loans were originated by Stephen York, (lower right photo)  Director, in Arbor’s full-service New York, NY, lending office.

 “The borrower’s goal with the properties was to refinance into 10-year loans at attractive rates,” York said. “We were pleased to help the borrower accomplish his objective and look forward to future opportunities together.”

Contact:  Christopher Ostrowski, Communications Manager, Arbor Commercial Mortgage, LLC, 333 Earle Ovington Blvd., Suite 900, Uniondale, NY 11553, 516-506-4255, costrowski@arbor.com
http://www.arbor.com/