Arbor Closes $22M Fannie Mae DUS Loan for Apartment Complex
- Jul 01, 2010
Cary, N.C.‑Arbor Commercial Funding LLC announced the recent funding of a $22,000,000 loan under the Fannie Mae DUS product line for the 302-unit complex known as Brook Arbor Apartments in Cary, N.C.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.68 percent.
“We were please to deliver a loan amount, terms and pricing that met our valued client’s needs,” says Joseph Donovan, senior vice president, Production Management, in Arbor’s Boston lending office.