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Posted: November 28, 2008
Porterfield of Arbor originates $10.043m
Jay Porterfield, director of an area Arbor Commercial Funding, LLC office, originated three loans totaling $10.043 million under the Fannie Mae DUS product line. These loans include:
* Rockport Oaks/Bayshore Apartments, Rockport/Arkansas Pass, Tex. The $3.127 million refinancing of a 124-unit complex. The seven-year loan amortizes on a 30-year schedule and carries a note rate of 6.05%.
* Great Oaks Apartments, Lufkin, Tex. The $4.65 million refinancing of a 160-unit complex. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.37%.
* Palo Verde Apartments, Colorado Springs, Col. The $2.266 million refinance of a 72-unit complex. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.77%.
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