SYRACUSE, NY - Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, funded a $3.52 million loan under the Fannie Mae DUS MBS product line to finance the 138-unit complex known as Ballantyne Apartments located on 161 Ballantyne Rd.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.25%.
The loan was originated by Peter Margolin, director, in Arbor's full-service Deerfield, Ill. lending office.
"Arbor assisted the borrower with the acquisition of this property by maximizing proceeds and offering a highly competitive rate," said Margolin.
Arbor Commercial Funding, LLC, Arbor Commercial Mortgage, LLC, and Arbor Realty Trust, Inc., have experience in mortgage origination, servicing and securitization and have built a reputation for service, quality and flexibility. Arbor's seasoned management team specializes in debt and equity financing for multifamily, office, retail, hotel and various other commercial real estate properties. The company offers a broad array of financing options including Fannie Mae DUS, FHA, CMBS, Bridge and Mezzanine products. Currently, Arbor services approximately $6.1 billion in loans. Arbor is a rated Standard & Poor's third-party commercial loan and special servicer.
Source: NYREJ.com