Arbor closes 10-year apartment loan.Arbor Commercial Mortgage, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control announced the recent funding of a $2,850,000 loan under its CMBS CMBS See: Commercial Mortgage Backed Securities product line to refinance Refinance 1. When a business or person revises their payment schedule for repaying debt. 2. Replacing an older loan with a new loan offering better terms. Notes: When a business refinances they typically extend the maturity date. the 128-unit complex known as Windmill windmill, apparatus that harnesses wind power for a variety of uses, e.g., pumping water, grinding corn, driving small sawmills, and driving electrical generators. Windmills were probably not known in Europe before the 12th cent. Apartments, Mauldin, SC. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.55%. Mark Fogel, Vice President of Asset Management in Arbor's full-service Uniondale lending office, said, "This repeat borrower originally approached Arbor only to provide financing advice on the acquisition of Windmill Apartments. After running through several alternatives with the borrower, we concluded that a payoff of the pre-existing mortgage using Arbor's CMBS program would allow the borrower to achieve his desired results." |
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