ARBOR SECURES $20M LOAN FOR SOUTH CAROLINA APARTMENTS

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SUMMERVILLE, S.C. — The owner of Cobblestone Village Apartments, a 320-unit multifamily complex in Summerville, has received a $20 million loan, which will replace existing construction financing. The 10-year loan carries a 5.88 percent interest rate and a 30-year amortization schedule. Arbor Commercial Funding arranged the loan.

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