ARBOR CLOSES THREE FANNIE MAE LOANS IN ILLINOIS, KANSAS

STERLING AND DOWNERS GROVE, ILL., AND MISSION, KAN. — Arbor Commercial Funding has funded three loans totaling $8.51 million under the Fannie Mae DUS Loan, Fannie Mae DUS Small Loan and Fannie Mae Multifamily Affordable Housing Low-Income Housing Tax Credit Loan product lines for three properties in Illinois and Kansas. The 160-unit Northland Park Apartments in Sterling received a 10-year loan, which amortizes on a 30-year schedule, in the amount of $4.13 million; the 26-unit Curtiss Apartments in Downers Grove received a $1.87 million loan, which carries a 10-year term and a 30-year amortization schedule; and the 84-unit Lamar Place in Mission received a $2.5 million loan, which carries a 10-year term and a 30-year amortization schedule. Patrick McNutley of Arbor's Chicago office originated the loans.