Uniondale, NY (July 1, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,683,900 loan under the Fannie Mae DUS® Small Loan product line for the 30-unit complex known as William Street Apartments in Worcester, MA.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.09 percent.
The loan was originated by Edward Petti, (top right photo) Director, in Arbor’s full-service New York, NY lending office. “This was an acquisition of a small apartment complex in Worcester, Massachusetts,” said Petti. “Our underwriting team is very familiar with this market and aggressively moved it through commitment and closing.”
Contact: Ingrid Principe, P: 516.506.4298, F: 516.542.2555, http://www.arbor.com/, Follow us on Twitter @ arbor1
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