Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, recently funded a $7.096 million loan under the Fannie Mae DUS Loan product line for the 105-unit complex known as Spring Hill Commons.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.71%.
The loan was originated by John Kelly, vice president, in Arbor's full-service Boston lending office.
"Arbor was pleased to provide this acquisition financing," said Kelly. "In a difficult debt market, we were able to provide over 80% financing on the purchase price and also include additional funds for the new ownership to increase the asset's quality via their capital improvement strategy."
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 $6.4 billion, Arbor is a rated Standard & Poor's commercial loan servicer and special servicer and is on the Standard and Poor's Select Servicer list.
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.