Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, has recently funded a $4 million loan under the Fannie Mae DUS Small Loan product line for the 54 unit complex known as Green Realty Apartments.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.95%.
The loan was originated by John Kelly, vice president, in Arbor's full-service Boston lending office.
"This transaction represents our flexibility in providing a single mortgage across assets scattered within the same market," said Kelly. "Our client has owned the properties for 20+ years and has done an excellent job of maintaining a strong tenant base, including some long-term commercial tenants."
Arbor also recent funded a $2 million loan under the Fannie Mae DUS Small Loan product line for the 24 unit complex known as 12 Bailey St. in Dorchester, Mass.
The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.75%.
The loan was also originated by Kelly. "Arbor was pleased to provide this new client with a refinance through our successful Small Loan program," said Kelly. "The owner has done an excellent job of managing the property and maintaining an excellent tenant base."
Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in the origination of debt and equity financing and servicing for multifamily and other diverse commercial assets. Arbor is a top ten Fannie Mae DUS lender and an FHA Multifamily Accelerated Process (MAP) lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of $6.2 billion, Arbor is a rated Standard & Poor's third-party commercial loan and special servicer.
Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and direct equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY with full-service lending offices throughout the United States. For more information about Arbor, visit www.arbor.com.