Arbor Closes $1,875,000 Fannie Mae DUS ® Small Loan for Mayflower Apartments in Lynn, MA

Uniondale, NY (Sept,  24, 2009) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,875,000 loan under the Fannie Mae DUS® Small Loan product line for the 48-unit complex known as Mayflower Apartments in Lynn, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.18 percent.

The loan was originated by Edward Petti,  (top right photo) Director, in Arbor’s full-service New York, NY lending office. “The client had a 1031 exchange that needed to be completed in 30 days,” said Petti. “Arbor committed and structured a closing that helped the borrower meet the requirements of the 1031 exchange and close in the necessary time frame.”

Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1