MELBOURNE, FL-Palm Harbour Associates, owner of Palm Harbour Villas, a 114-unit, 96%-occupied apartment complex in this Spacecoast city, 90 miles southeast of Downtown Orlando, is refinancing the 18-year-old property with a $3.6-million Fannie Mae DUS loan.

The 10-year loan is being amortized on a 30-year schedule with a 7.12% interest rate.

Arbor Commercial Mortgage of Uniondale, NY, arranged the financing. Arbor’s Ridgely W. Potter, regional director, Mid-Atlantic region, originated the loan and had it underwritten in Arbor’s Bethesda, MD office.

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