The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.31%.
"Fannie Mae's Aggregation program provides the flexibility required by the borrower to meet their specific needs. It is a great loan product for them," says Michael Jehle, Arbor's Midwest regional director.
The loan was originated by Jehle and was underwritten in Arbor's Bloomfield Hills lending office.
Arbor is a national lender specializing in debt and equity financing for multifamily, healthcare and commercial real estate. Arbor Commercial's REIT, Arbor Realty Trust, was formed to invest in real estate related bridge and mezzanine loans, preferred equity investments, joint ventures, note acquisitions and other real estate related assets. Currently, Arbor services more than $2.5 billion in loans.
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