Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, has closed on a $2 million loan under the Fannie Mae DUS product line to refinance the 60-unit complex known as Heritage House Apartments.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.04%.
The loan was originated by John Edwards, vice president, in Arbor's full-service Boston, Mass. lending office and the key principal was August Lenhart.
"We were pleased with the opportunity to provide low leverage financing for a strong owner and operator," said Edwards.
Arbor Commercial Funding, LLC, Arbor Commercial Mortgage, LLC, and Arbor Realty Trust, Inc., have extensive experience in mortgage origination, servicing and securitization and have built a reputation for service, quality and flexibility.
Arbor's seasoned management team specializes in debt and equity financing for multifamily, office, retail, hotel and various other commercial real estate properties.