ARBOR CLOSES $9.8 MILLION MULTIFAMILY LOANS IN THE MIDWEST

EAST LANSING, MICH., KANSAS CITY, MO., AND NEW RICHMOND, WIS. — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has funded three Fannie Mae DUS loans totaling approximately $9.8 million in Michigan, Missouri and Wisconsin. In East Lansing, the 54-unit Cedar Greens Portfolio, a student housing property near Michigan State University, received $6 million in funding under the Fannie Mae DUS Dedicated Student Housing Loan product. The 10-year loan amortizes on a 30-year schedule. The 251-unit Colonial Square Cooperative in Kansas City received a $2.44 million loan under the Fannie Mae DUS Limited Equity Co-op Loan product line. The 10-year loan has a 30-year amortization schedule. Finally, Creekside and Meadow Brook Apartments, a 48-unit complex in New Richmond, received a 10-year $1.35 million loan, which amortizes on a 30-year schedule, under the Fannie Mae DUS Small Loan product line. Michael Jehle of Arbor's Bloomfield Hills, Mich., office originated the loans.