Abergel of Arbor closes six Fannie Mae deals totaling $23.631 million
According to Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC and a national, direct commercial real estate lender, it has completed funding of six loans totaling $23.631 million under the Fannie Mae DUS Loan and Fannie Mae DUS Small Loan product lines. These loans include:
* The L at 30th Drive, Astoria, N.Y. - This 39-unit complex received $8.9 million funded under the Fannie Mae DUS Loan product line. This 10-year refinance loan amortizes on a 30-year schedule.
* Ludlow Street Apartments, New York, N.Y. - This 27-unit complex received $1.8 million funded under the Fannie Mae DUS Small Loan product line. This 10-year refinance loan amortizes on a 30-year schedule.
* Stones Crossing, Rock Hill, S.C. - The 160-unit complex received $5.4 million under the Fannie Mae DUS Loan product line. This 10-year refinance loan amortizes on a 30-year schedule.
* Hartford Hills Apartments, Los Angeles, Calif. - This 102-unit complex received $3.645 million funded under the Fannie Mae DUS Small Loan product line. This seven-year refinance loan amortizes on a 30-year schedule.
* 232 Union Place Apartments, Los Angeles, Calif. - This 50-unit complex received $2.7 million funded under the Fannie Mae DUS Small Loan product line. The seven-year acquisition loan amortizes on a 30-year schedule.
* 2352 Glendale Blvd., Los Angeles, Calif. - This 16-unit complex received $1.186 million funded under the Fannie Mae DUS Small Loan product line. This seven-year refinance loan amortizes on a 30 year schedule.
All of loans were originated by Ronen Abergel, vice president in Arbor's full-service New York City office.
Holtsville, NY A fourth-generation family-owned, custom metal-fabricating business will expand in Holtsville after the Town of Brookhaven Industrial Development Agency (IDA) closed on a package of economic incentives.