ARBOR CLOSES TWO CA-BASED FANNIE MAE LOANS
UNION CITY and FRESNO, CA — Arbor Commercial Funding has closed two California-based loans totaling $28.3 million. The loans were obtained under the Fannie Mae DUSLoan and Fannie Mae DUSSmall Loan product lines. The first was for the 250-unit Greenhaven Apartments in Union City for $26.3 million. This is a 10-year acquisition loan with a 30-year amortization schedule. The second was for the 48-unit Lions Gate Apartments in Fresno for $2 million. This is a 10-year refinance loan with a 30-year amortization schedule. The loans were originated by Jay Porterfield, a vice president in Arbor’s Plano, TX-based lending office.