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Arbor Arranges $33.6M Loan to Refinance Off-Campus Community

309 East Green is a 416-unit community located near the University of Illinois.

Champaign, Ill. — Arbor Commercial Funding has originated a $33.6 million loan under the Fannie Mae DUS program to refinance a Class A, off-campus student housing community located near the University of Illinois. Known as 309 East Green, the community contains 416 units. Unit amenities include granite countertops, stainless steel appliances and large balconies. The building also contains a rooftop pool.

The loan carries a 10-year term and a 30-year amortization schedule. The borrower’s name was not released. Patrick McNulty of Arbor’s Chicago office originated the financing.

— Coleman Wood

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