Done Deals: Arbor Closes $2.048M Fannie Mae DUS® 3MaxExpress® Loan on Clearview Apartments in Fall River, MA

Thursday, April 10, 2008

Arbor Closes $2.048M Fannie Mae DUS® 3MaxExpress® Loan on Clearview Apartments in Fall River, MA

UNIONDALE, NY--Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,048,000 loan under the Fannie Mae DUS® 3MaxExpress® product line to acquire the 49-unit complex known as Clearview Apartments (above photo) in Fall River, MA.

The 5-year loan am

ortizes on a 30-year schedule and carries a note rate of 5.63 percent.

The loan was originated by John Kelly, (top right photo) Director, in Arbor’s full-service Boston, MA lending office. “Arbor was pleased to provide financing for this acquisition,” said Kelly. “Our client is taking over a complex with an excellent track record in a great location.”