ARBOR CLOSES $40.7M LOAN TO REFINANCE APARTMENT COMPLEX

NEWARK, N.J. — Arbor Commercial Funding has funded a $40.7 million loan to refinance the 654-unit First King Apartments in Newark. The loan, a Fannie Mae Affordable Housing Loan DUS, is a 10-year product that amortizes on a 30-year schedule. Stephen York of Arbor’s New York City office originated the loan.