Petti of Arbor Commercial Funding originates two loans: $23.66 million

According to Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, it has completed the recent funding of a $21.81 million loan under the Fannie Mae DUS Loan product line for the 317-unit complex spread over eight buildings and 23,710 s/f. The subject property is located at 820-830 Riverside Ave. and is known as Hilltop Portfolio. The 6.5-year loan amortizes on a 30-year schedule and carries a note rate of 5.41%. The loan was originated by Edward Petti, director, in Arbor's area lending office. "The borrower had 90 days to pay off the loans on these properties and the borrowing entity structure was very complicated," said Petti. "There were many moving parts and a great cooperative effort between Arbor and Fannie Mae, with us ultimately closing on the 90th day." Arbor also recently completed the funding of a $1.85 million loan under the Fannie Mae DUS Cooperative product line for the 53-unit complex known as 1922 McGraw Ave. Co-op in the Bronx. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.05%. The loan was originated by Petti. "We were pleased to successfully deliver a 10-year interest-only loan in accordance with the borrower's wishes," said Petti. Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in the origination of debt and equity financing and servicing for multifamily and other diverse commercial assets. Arbor is a top ten Fannie Mae DUS® lender and an FHA Multifamily Accelerated Process (MAP) lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of $7.6 billion, Arbor is a rated Standard & Poor's third-party commercial loan and special servicer. Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and direct equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY with full-service lending offices throughout the United States. For more information about Arbor, visit www.arbor.com. 1922 McGraw Avenue Cooperative - Bronx, NY Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in the origination of debt and equity financing and servicing for multifamily and other diverse commercial assets. Arbor is a top ten Fannie Mae DUS® lender and an FHA Multifamily Accelerated Process (MAP) lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of $7.6 billion, Arbor is a rated Standard & Poor's third-party commercial loan and special servicer. Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and direct equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY with full-service lending offices throughout the United States. For more information about Arbor, visit www.arbor.com.