Arbor Closes Six Fannie Mae DUS® Loans Totaling $28.1M Across U.S.

 Uniondale, NY (Dec. 20, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of six loans under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines across the country. These loans include:

 South View Place Towers, Littleton, CO  (top left photo) – The 259-unit, mid-rise complex, which is primarily marketed to seniors, received $12,860,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

River Hills Apartments, Kerrville, TX  (top right photo) – The 88-unit complex in the Texas Hill Country received $4,450,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

London Square Apartments, Tulsa, OK  (middle left photo) – The 172-unit complex received $4,800,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

Village at Lamar Apartments, Austin, TX (middle right photo) – The 154-unit complex received $4,025,000 funded under the Fannie Mae DUS® Loan product line. The 10-year loan amortizes on a 30-year schedule.

Madison Place Apartments, Cordele, GA (lower left photo) – The 29-unit complex, which is owned by a local investor, received $1,000,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

Exeter Apartments, Colorado Springs, CO (lower right photo) – The 26-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 Jay Porterfield, Vice President, in Arbor’s full-service Plano, TX, lending office.

Arbor helped refinance each one of these properties, except Exeter Apartments, for which an acquisition loan was provided in a rather quick closing time frame.” Porterfield said.

 “Of note among the other deals, London Square Apartments utilized its funding to restore several fire-damaged units. Arbor’s work also helped allow the borrowers to restructure their borrowing entities in the case of London Square as well as Village at Lamar Apartments.”

Contact:  Christopher Ostrowski, costrowski@arbor.com