UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $6,130,000 loan under the Fannie Mae DUS® product line to acquire the 61-unit complex known as Hamilton Square Apartments (photo above) in Foxborough, MA.The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.48 percent. *DUS and 3MaxExpress are registered marks of Fannie Mae
.The loan was originated by John Kelly, (photo at right) Director, in Arbor’s full-service Boston, MA lending office. “The loan amount included $300,000 for project upgrades that were identified by our client as part of their pre-acquisition strategy,” said Kelly. “We closed within the identified timeline and have already begun processing our next transaction for this excellent sponsorship team.”
CONTACT:
Arbor Commercial Mortgage, LLC
Arbor Realty Trust, Inc.
333 Earle Ovington Blvd, Suite 900
Uniondale, NY 11553
Ingrid Principe
Tel: (516) 506-4298
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