Arbor Commercial Funding L.L.C. has recently provided loans totaling more than $61 million for three separate acquisitions. \u00a0The loans are as follows: \u00a0\u00a0\u00a0 * A $28.1 million loan under the Fannie Mae DUS product line, for the purchase of The Exchange at Greenville, a 288-unit student housing complex in Greenville, N.C. The five-year loan amortizes on a 30-year schedule and has a 5.47 percent note rate. It was originated by John Edwards, director, in Arbor\u2019s Boston office. Edwards said in a release that the financing was completed in less than 30 days.\u00a0\u00a0\u00a0\u00a0 * An $18 million loan under Fannie Mae\u2019s DUS MBS program, for the acquisition of two student housing properties in Macomb, Ill. The properties, Campus Pointe and Campus Manor, total 361 units. The five-year loan amortizes over 30 years and has a note rate of 5.46 percent. This financing was also originated by John Edwards, and was closed concurrently with the Exchange at Greenville loan.\u00a0\u00a0\u00a0\u00a0 * A $15 million loan under the Arbor 85 product line, for the purchase of Water Street Apartments (pictured), a 27-unit property in New York City. The loan was originated by Stephen York, director, of Arbor\u2019s Uniondale, N.Y., office. The financing was a combination of Fannie Mae\u2019s DUS program with Arbor\u2019s own mezzanine funds.\u00a0Arbor Commercial Funding is a wholly owned subsidiary of Arbor Commercial Mortgage L.L.C. Currently, the firm services some $3 billion in loans, and is a rated Standard & Poor\u2019s third-party commercial loan and special server.<\/p>\n","protected":false},"excerpt":{"rendered":"
Arbor Commercial Funding L.L.C. has recently provided loans totaling more than $61 million for three separate acquisitions. \u00a0The loans are as follows: \u00a0\u00a0\u00a0 * A $28.1 million loan under the Fannie Mae DUS product line, for the purchase of The Exchange at Greenville, a 288-unit student housing complex in Greenville, N.C. The five-year loan amortizes…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1003786918","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\n