Arbor funds loan for 41-unit apartment complex in Chicago
August 18, 2010 | Staff Writer | Print Article | Email this Article
Uniondale, N.J.-based Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, recently funded a $2.6 million loan under the Fannie Mae DUS® Small Loan product line for the 41-unit North Lakewood Apartments in Chicago.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.98 percent.
Stephen York, a director in Arbor’s full-service New York lending office, originated the loan.
“We were pleased to deliver competitive financing terms to a repeat client and look forward to future opportunities together,” York said.
Tags | Arbor, Chicago, Fannie Mae, multi-family
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