Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, funded the two loans using the Fannie Mae DUS 3MaxExpress program:
* $1.3 million to acquire the 25-unit complex known as Allendale Crossings in North Providence.
* $750,000 to acquire the 12-unit complex known as Sturbridge Apartments in North Providence.
Both 10-year loans amortize on a 30-year schedule and carry a note rate of 6.47%.
The loans were originated by John Edwards, director, in Arbor's full-service Boston lending office. "We were pleased with the opportunity to work with a strong local owner and operator. We look forward to continuing our business relationship with this client," said Edwards.