Business Services Industry
Arbor National Commercial Mortgage, LLC
Real Estate Weekly, Nov 24, 1999
Arbor National Commercial Mortgage, LLC announced the recent funding of $10 million mezzanine financing for The McAlpin House, an 886,000 squarefoot apartment-retail property located at 50 West 34th Street in Manhattan.
Arbor provided a two-year mezzanine loan of $10 million to assist in the acquisition financing of the building, which consists of 690 units and 90,000 square feet of retail space. The loan was originated by Arbor's Structured Finance Group. According to Fred Weber, senior vice president and director of Arbor's Structured Finance Group, "Once again Arbor has provided fast, reliable and flexible financing to its customers, executing this transaction within two days from application to funding.
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