Arbor Closes 2 Fannie Mae DUS® Small Loans Totaling $3.5M in Massachusetts and Connecticut

Pyramid Apartments in Hyde Park, MA Receives $1.9M

UNIONDALE, NY (Mar. 10, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,400,000 loan under the Fannie Mae DUS® Small Loan product line for the 16-unit complex known as Pyramid Apartments in Hyde Park, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.98 percent.

The loan was originated by John Kelly, (top right photo)  Vice President, in Arbor’s full-service Boston, MA lending office. “Our client needed a commitment to close within 30 days of executing an application, and we met this timeline with time to spare,” said Kelly. “Arbor’s platform continues to allow for small loans to be processed efficiently and for borrowers to take advantage of excellent loan terms. We look forward to future business with this client.”

Sunny Knoll Apartments in Seymour, CT Obtains $1.615M

UNIONDALE,  NY (Mar.10, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,615,000 loan under the Fannie Mae DUS® product line for the 43-unit complex known as Sunny Knoll Apartments (middle left photo) in Seymour, CT.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.15 percent.

The loan was originated by John Kelly, (top right photo)  Vice President, in Arbor’s full-service Boston, MA lending office. “Arbor was pleased to finance this asset that has been family-owned for a generation,” said Kelly. “The refinance allowed for the client to execute a capital improvement plan for continued property enhancement. We look forward to our next opportunity to work with this well-positioned ownership group.”

Contact:  Ingrid Principe, iprincipe@arbor.com