Arbor’s Chicago office funds $2.6-million loan in Minnesota
May 27, 2010 | Staff Writer | Print Article | Email this Article
Arbor Commercial Funding, LLC recently funded a $2.6 million loan under the Fannie Mae DUS® Small Loan product line for the 107-unit Summit Breckenridge Apartments in Duluth, Minn.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.75 percent.
Ted Nasca, director in Arbor’s full-service Chicago lending office, handled the transaction.
“This transaction was an excellent fit for Arbor’s Small Loan Program,” said Nasca. “Although located in a smaller market, the deal strengths of a solid operating history, good asset quality and excellent management allowed us to deliver on this financing request.”
Tags | Arbor Commercial Funding, Duluth, Minnesota, multi-family
© 2012 Real Estate Communications Group. Duplication or reproduction of this article not permitted without authorization from the Real Estate Publishing Group. For information on reprint or electronic pdf of this article contact Mark Menzies at 312-644-4610 or menzies@rejournals.com
you are really a good webmaster, you have done a well job on this topic!