Arbor Closes $1.93M Fannie Mae Loan for Project-Based Property
- Jun 01, 2010
Dallas–Arbor Commercial Funding LLC funded a $1,930,000 loan under the Fannie Mae DUS Multifamily Affordable Housing product line for the 64-unit complex known as Lake June Village Apartments in Dallas.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.00 percent.
The loan was originated by John Kelly, vice president, in Arbor’s full-service Boston lending office. “Arbor was pleased to work on this acquisition of a 100 percent Project-Based Section 8 deal for a repeat client,” said Kelly. ”This client has an excellent track record of efficiently running these tough-to-manage complexes; we look forward to our next deal with this excellent ownership group.”