The financing came in the form of a loan from Arbor Commercial Mortgage LLC of Uniondale, Long Island in New York. The company committed the loan through its Fannie Mae DUS product line.
It is a 10-year loan and amortizes on a 30-year schedule. Also, it carries a note rate of 7.12%.
This is not the first loan Sawyer has obtained from Arbor for refinancing. Dan Palmier, an Arbor senior vice president, originated the loan and comments, "Arbor is pleased to provide the Sawyer group with yet another financially beneficial refinancing transaction."
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