Arbor Closes $13,760,000 Fannie Mae DUS Loan
- Nov 03, 2010
Robinson, Pa.‑Arbor Commercial Funding LLC recently funded a $13,760,000 loan under the Fannie Mae DUS Loan product line for the 291-unit complex known as Westpointe Apartments in Robinson, Pa. The 10-year loan amortizes on a 30-year schedule.
The Westpointe Apartments are located within the West Submarket of the Pittsburgh metropolitan area in an neighborhood of increasing residential and retail development. The West Submarket is currently outperforming the Pittsburgh market as a whole with a declining vacancy rate.
The loan was originated by Ronen Abergel, director, in Arbor’s full-service New York, N.Y., lending office.