DEAL OF THE DAY: Arbor Commercial Provides $18,025,000 for Two Student Housing Properties
April 8, 2008
By Anuradha Kher, Online News EditorMacomb, Ill.–Arbor Commercial Funding LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage LLC, recently completed funding of a $18,025,000 loan under the Fannie Mae DUS MBS program to finance the acquisition of two student housing properties totaling 361 units known as Campus Pointe and Campus Manor in Macomb, Ill. The five-year…
By Anuradha Kher, Online News EditorMacomb, Ill.–Arbor Commercial Funding LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage LLC, recently completed funding of a $18,025,000 loan under the Fannie Mae DUS MBS program to finance the acquisition of two student housing properties totaling 361 units known as Campus Pointe and Campus Manor in Macomb, Ill. The five-year loan amortizes on a 30-year schedule and carries a note rate of 5.46 percent.“We were able to close this loan as promised within 30 days to facilitate an acquisition,” says John Edwards, director, in Arbor’s Boston lending office.
