TODAY’S DEALS: Arbor Closes $3.4M Fannie Mae DUS Loan, and Other Transactions
- Mar 05, 2009
By Anuradha Kher, Online News EditorArlington, Texas.–Arbor Commercial Funding LLC recently funded a $3,400,000 loan under the Fannie Mae DUS product line to refinance the 138-unit property known as Bluebonnet Springs Townhomes in Arlington, Texas.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.41 percent. “The Sponsor completed significant capital improvements over the course of two years and increased the occupancy to a stabilized level,” says Stephen York, director in Arbor’s Uniondale, N.Y. lending office. Hendricks & Partners Arranges Sale of 40-Unit Community in St. LouisSt. Louis–Hendricks & Partners has arranged the sale of 5386-5390 Pershing Ave. in St. Louis for an undisclosed amount. The 40-unit apartment community was sold to Rack Holdings LLC.