York of Arbor Commercial originates $2.43 million Fannie Mae DUS loan

According to Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, the firm has completed the recent funding of a $2.43 million loan under the Fannie Mae DUS Small Loan product line for the nine-unit property known as 81 Olive St. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.05%. The loan was originated by Stephen York, director, in Arbor's full-service New York, NY lending office. "The borrower's existing loan was approaching maturity and came to Arbor looking for long-term fixed-rate financing," said York. "We were pleased to deliver competitive terms, which included sizeable cash out." Arbor also recently funded a $638,600 loan under the Fannie Mae DUS Small Loan product line to refinance the 8-unit complex known as Sleepy Hollow. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.36%. The loan was originated by Dan Gaylord, director, in Arbor's full-service Austin, TX lending office. "The sponsor initially purchased the property as an under-performing asset," said Gaylord. "After successfully repositioning the property, we cashed him out so that he could enjoy a long-term fixed-rate note." 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 $6.3 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.