Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, recently funded a $1,929,100 loan under the Fannie Mae DUS Small Loans product line to refinance the 39-unit complex known as Tiffany Terrace Apartments.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.32%.
The loan was originated by John Kelly, director, in Arbor's full-service Boston lending office.
"Arbor was pleased to refinance this transaction on behalf of the long-term owner," said Kelly. "The property has an excellent track record of being well managed and maintained. We look forward to growing our financial partnership with this first time Arbor client."