UNIONDALE, NY (June 4, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,800,000 loan under the Fannie Mae DUS® Small Loan product line for the 32-unit complex known as River Street Apartments in Mattapan, MA.The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.92 percent.
The loan was originated by John Kelly,(top right photo) Vice President, in Arbor’s full-service Boston, MA lending office.
“This transaction demonstrates Arbor’s ability to continue to close multifamily loans on behalf of our clients at very favorable rates and terms,” said Kelly. “And our client has done an excellent job of managing this asset for several years.”
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