Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PONTIAC, MI-Arbor Commercial Mortgage, LLC has announced the recent funding of a $4.3 million loan under its DUS/MBS product line to refinance the 285-unit complex known as Bloomfield Hills Townhouses Cooperative, here.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.91%.

The loan was originated by Michael Jehle, Midwest regional director, and was underwritten in Arbor’s full-service Bloomfield Hills lending office. “The proceeds from the loan will allow this affordable cooperative to complete significant capital improvements to the property, while eliminating the stringent HUD reporting requirements and reserves. It is a win/win for all parties concerned,” says Jehle.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.