Dallas—Arbor Commercial Funding LLC announced the recent funding of a $1,930,000 loan under the Fannie Mae DUS Multifamily Affordable Housing product line for the 64-unit Lake June Village Apartments in Dallas.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6 percent.
The loan was originated by John Kelly, vice president, in Arbor’s Boston lending office.
Arbor also recently funding a $1,931,800 loan under the Fannie Mae DUS Small Loan product line for the 50-unit Alder Village in Portland, Ore.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.91 percent.
The loan was originated by Brian Scharf, director, in Arbor’s Uniondale, N.Y. office. “Arbor provided acquisition financing for Alder Village at 80 percent of cost,” says Scharf.