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Finance
Posted: October 10, 2007
Arbor closes $7.2 million refinancing of Highland Ridge Apartments
Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, has recentlyclosed on funding of a $7.2 million loan using Fannie Mae's DUS program to refinance the 147-unit complex known as Highland Ridge Apartments.
The 10-year loan amortizes on a 30-year (five years interest-only) schedule and carries a note rate of 5.60%.
The loan was originated by John Edwards, director, in Arbor's full-service Boston lending office.
"We provided great flexibility for this acquisition financing given the timing required in connection with a 1031 exchange," said Edwards. "Further, our ability to secure an early rate lock allowed this repeat Arbor client to secure an attractive 10-year fixed-rate interest rate."
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Columns and Thought Leadership
Reverse exchanges and the challenges of a competitive real estate market - by Michele Fitzpatrick
Our current, highly competitive real estate market poses specific challenges for investors who are considering taking advantage of a tax-deferred 1031 exchange. In this market, investors will have no problem selling their current property if priced properly, but they may find it difficult to find a suitable replacement property
The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski
Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
Real estate without good estate planning - a troublesome problem - by Daniel Calano
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It’s a confusing real estate world: Don’t you think? - by Daniel Calano
The news is full of “never before” pronouncements. Never before has there been a pandemic so impactful on real estate. Never before has technology allowed for remote business meetings on such a frequent basis. Never before would people so comfortably work from home as to vacate office buildings, at least on Fridays and Mondays.