Two apartment complexes each in Bethel and Danbury, with 227 units, have gotten Fannie Mae refinancing from a New York state lender.
Arbor Commercial Funding, of Uniondale, N.Y., said it financed the four complexes with guarantees from Fannie Mae. All are 10-year loans amortized over 30 years at 5.73 percent.
The two Bethel complexes are the Mountain View Apartments and Grassy Plains Estates, with 36 units each. Mountain View was refinanced for $3.3 million; Grassy Plains for $3.2 million, said Arbor Director Edward Petti.
In Danbury, the 138-unit Spring Ridge Apartments received $15.1 million in refinancing. Park Ridge South Apartments got $5.4 million.
Arbor didn’t name the properties’ owner but Petti identified them as the “BRT Danbury Portfolio.”
Arbor also will service the loans, including collecting loan payments and overseeing tax escrow accounts.
