Arbor Closes Loans in Virginia and Massachusetts

 $1,477,500 Fannie Mae DUS® Small Loan Closed for 357 Main in Hyannis, MA

Uniondale, NY (Aug. 23, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $1,477,500 loan under the Fannie Mae DUS® Small Loan product line for the 21-unit building known as 357 Main (top left photo)  in Hyannis, MA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.97 percent.

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

“Arbor was pleased to provide a cash-out refinancing for this long-term owner,” Kelly said. “This asset has a mix of commercial tenants and apartments units.

"Our small balance program for multifamily assets continues to be the best source of financing available in the market. We look forward to growing this partnership.”

Lansdale Gardens Apartments in Norfolk, VA Gets $2M Loan

Uniondale, NY (Aug. 23, 2010) - Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, announced the recent funding of a $2,000,000 loan under the Fannie Mae DUS® Small Loan product line for the 96-unit complex known as Lansdale Gardens Apartments (bottom left photo) in Norfolk, VA.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.62 percent.

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

“Arbor was pleased to provide financing for this well-managed asset,” Kelly said. “Our small balance program for multifamily assets continues to be the best source of financing available in the market. We look forward to growing this partnership.”

Contact:  Christopher Ostrowski, costrowski@arbor.com