Arbor Closes $1.6million loan to refinance 44-unit complex - Pines Apts.

Arbor Commercial Funding has completed a $1.6 million loan under the Fannie Mae DUS Small Loans product line to refinance the 44-unit complex known as The Pines Apartments. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.25%. The loan was originated by Michael Jehle, director, in Arbor's full-service Michigan lending office.