Arbor Closes Four Fannie Mae DUS® Loans Totaling $17M From Texas to Hawaii

UNIONDALE, NY - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of four loans totaling $16,958,400 under the Fannie Mae DUS® Loan and Fannie Mae DUS® Small Loan product lines in Texas and Hawaii:

 Upper E Portfolio, Dallas, TX (top left photo) – The 466-unit portfolio received $10,050,000 funded under the Fannie Mae DUS® Loan product line. The seven-year loan amortizes on a 30-year schedule.

Maple Terrace Apartments, Dallas TX (top right photo) – The 81-unit complex received $4,696,000 funded under the Fannie Mae DUS® Loan product line. The seven-year loan amortizes on a 30-year schedule.

Ashton Place Apartments, Amarillo, TX (middle left photo) – The 62-unit complex received $1,250,000 funded under the Fannie Mae DUS® Small Loan product line. The 10-year loan amortizes on a 30-year schedule.

Honolulu Apartments, Honolulu, HI (lower right photo) – The 10-unit complex received $962,400 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 Anthony Tarter, Director, in Arbor’s full-service Dallas, TX, lending office.

“This diverse group of our most recent deals included two well-located properties in Dallas, both of which were acquired with the assistance of our funding,” Tarter said.

“The Ashton Place Apartments in Amarillo, TX, were refinanced and feature a high occupancy as well as high-quality units.

“Meanwhile, for the refinance of the Honolulu Apartments, Arbor helped guide the new Fannie Mae borrower through the funding process, securing good terms during the course of the transaction.”

Contact:  Christopher Ostrowski, costrowski@arbor.com

Aveda Institute to Open at Brookwood Place on Peachtree in Atlanta

 ATLANTA, GA – Selig Enterprises is pleased to announce Aveda Institute will be opening at Brookwood Place on Peachtree (top left photo)  in Fall 2011. The cosmetology school will occupy the 18,040sf currently occupied by Borders Books & Music. Borders is slated to close February 28, 2011.

Brookwood Place on Peachtree is a mixed-use development featuring a 130,000 square foot retail component and 150 premier condominiums and townhomes, and is located at 1745 Peachtree Street.

This established lifestyle center features Spa Sydell, Viking Culinary Arts Center, Kroger, Tuk Tuk Thai Loft and Baroni Pizza & Pasta.

Aveda Institutes are part of an integrated team of more than 6,500 salons, spas, institutes and stores in over 20 countries worldwide. It is a powerful global affiliate aligned by a common goal.

Aveda Institute is one of the fastest growing worldwide salon networks and the most successful salon business model in the industry.

Selig Enterprises, Inc. is a real estate holding and development company with a portfolio in excess of ten million square feet and with properties throughout the Southeast. The company operates AAA Parking, which manages over 100 parking facilities.

 Headquartered in Atlanta, the company provides leasing, development, acquisition, space design, construction, legal, property management, brokerage and accounting services.

For More Information, contact:

Hilary W. Shure, CMD, Selig Enterprises, Inc.

Direct: 404.898.9065; Fax: 404.875.2629

Email: hshure@seligenterprises.com

URL: http://www.seligenterprises.com/

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Mercantile Capital Corp. launches SBA 504 interim loans website

  

ALTAMONTE SPRINGS, FL --- Mercantile Capital Corporation, a wholly owned subsidiary of Old Florida National Bank, which specializes in U.S. Small Business Administration 504 loans that assist small business owners acquiring or developing their own facilities, has announced the launch of a new website dedicated exclusively to SBA 504 interim loans.

Chris Hurn (top right photo), chief executive officer of Mercantile Capital Corp., said www.SBA504InterimLender.com is designed to provide banks and non-bank lenders information on how SBA 504 interim loans are best used and how to best secure these loans.

“For instance, a bank may not want to do an SBA interim/bridge loan because of possible regulatory pressure, lending limits, or the fact that the property type doesn’t meet their loan policy guidelines,” Hurn said.

 “Or perhaps they’d rather not do construction/renovations for a particular 504 loan.  In these cases, we can provide the interim loan and help get the loan done for both the lender and the small business,” he added.

Additionally, www.SBA504InterimLender.com is helpful for Certified Development Companies (CDCs), which are certified by the SBA to provide the government-guaranteed second mortgage/trust deed position for SBA 504 loans.

“When a CDC originates an SBA 504 loan, we can commit to providing the interim loan which will expedite securing a first mortgage lender for them,” Hurn said.

Mercantile Capital Corp. finished 2010 with loan volume 80 percent above its 2009 volume, and expects a substantial increase in 2011. Nearly $141 million of SBA 504 loans were originated by Mercantile Capital Corp. in 2010 in 13 states.

Visit www.SBA504InterimLender.com; www.504Experts.com; and www.504Blog.com.

For more information, contact:

Chris Hurn, CEO Mercantile Capital Corporation, 407-786-5040 ChrisHurn@MercantileCC.com

 Larry Vershel Communications, 407-644-4142 Lvershelco@aol.com