Loan is Preferred product.

Arbor Commercial Funding, LLC announced the funding of a $9,465,400 loan under its Arbor 85 Preferred product line to finance the acquisition of the 421-unit apartment complex in Fort Wayne, IN.

Arbor provided a first mortgage loan of $7,540,000 through the DUS(tm) program. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.81%. Arbor also provided a fixed rate mezzanine loan of $1,925,400. The loan term is five years with extension options up to ten years. The loan was originated by Michael Jehle, director in Arbor's full-service Bloomfield Hills, MI lending office and was underwritten in Arbor's Chicago lending office.