Arbor Closes $4,800,000 Fannie Mae DUS® Loan for Pastorius Court Apartments in Philadelphia, PA

Uniondale, NY (Sept. 29, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $4,800,000 loan under the Fannie Mae DUS^® product line for the 42-unit complex known as Pastorius Court Apartments (top left photo) in Philadelphia, PA. The 10-year loan amortizes on a 30-year schedule.

The loan was originated by John Kelly (lower right photo), Vice President, in Arbor’s full-service Boston, MA, lending office.

“Arbor was pleased to provide permanent financing for this project,” Kelly said. “Our client had finished a major renovation, exceeded lease-up expectations and the asset is positioned for long-term success. We look forward to growing this financial partnership with this repeat client.”

Contact:  Christopher Ostrowski, costrowski@arbor.com