TODAY’S DEALS: Arbor Closes $4.871M Fannie Mae DUS Small Loan, and Other Transactions
- Feb 17, 2009
By Anuradha Kher, Online News Editor Waukegan, Ill.–Arbor Commercial Funding LLC has recently funded $4,871,000 loan under the Fannie Mae DUS Small Loans product line to finance the 120-unit complex known as Hinkston Pond Apartments (pictured) in Waukegan, Ill. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.29 percent. NorthMarq Capital Arranges $1.4M Mortgage for 52-Unit MF PropertyBuffalo, N.Y.–NorthMarq Capital has arranged first mortgage financing in the amount of $1.4 million for Park Place Apartments, a 52-unit multifamily property, located in Buffalo, N.Y. Financing was based on a 10-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through a correspondent life insurance company. The correspondent life company provided a loan in excess of 75 percent loan to value.