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Arbor Closes $2.6M Loan On Co-Op Unit

TAYLOR, MI-Arbor Commercial reports it has funded a $2.6 million loan at a rate of 5.78% for a 197-unit cooperative.

By Dan Heaton | Updated on September 11, 2003

TAYLOR, MI-Arbor Commercial Mortgage, LLC has announced it has funded a $2.68 million loan that will allow for the refinancing of a 197-unit cooperative complex here.

The funding of the $2.68 loan is made under Arbor’s DUS/MBS product line for the cooperative complex known as Georgetown Place in this Detroit suburb.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.78% and was originated by Michael Jehle, Midwest Regional director. It was underwritten in Arbor’s Bloomfield Hills lending office.

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