ARBOR ARRANGES $27 MILLION MULTIFAMILY PORTFOLIO REFINANCING

DANBURY AND BETHEN, CONN. — Arbor Commercial Funding has secured Fannie Mae DUS funds to refinance a portfolio four Connecticut multifamily communities. A $15.11 million loan was arranged for Spring Ridge Apartments, a 138-unit property located in Danbury. A $5.4 million loan was arranged for Park Ridge South Apartments, a 47-unit property also located in Danbury. A $3.13 million loan was arranged for Mountain View Apartments, a 36-unit property located in Beth. Finally, a $3.18 million loan was arranged for Grassy Plain Estates, a 36-unit property also located in Bethel. Each loan carries a 10-year term, a 30-year amortization schedule and a 5.73 percent interest rate. Edward Petti of Arbor's New York City office originated the transactions. The borrower's name was not disclosed.