McGovern of Arbor originates $3.086 million Fannie Mae DUS loan
Arbor Commercial Funding, LLC funded a $3.086 million loan under the Fannie Mae DUS Small Loans product line to refinance the 21-unit complex known as 507 W 139th St. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.29%.The loan was originated by Arbor director Patrick McGovern.
Manhattan, NY LDG Group LLC, Infinite Horizons, L+M Development Partners, and Urbane Development Group closed on over $97 million in financing for the redevelopment of the former Lincoln Correctional facility in