TODAY’S DEAL: Arbor Closes Two Fannie Mae DUS Loans Totaling $5,164,500
- Feb 27, 2009
By Anuradha Kher, Online News EditorKnoxville, Tenn. and Odessa, Texas–Arbor Commercial Funding LLC recently funded two loans totaling $5,164,500 under the Fannie Mae DUS product line. These loans include: • $3,680,000 under the Fannie Mae DUS product line for a portfolio in Knoxville, Tenn. This is a refinance of non-contiguous properties, Morningside Hills Apartments (pictured) and Magnolia Apartments. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.51 percent• $1,484,500 under the Fannie Mae DUS small loan product line for the 56-unit Cielo Vista Townhouse, in Odessa, Texas. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.64 percent.