Augusta, Ga. – Arbor Commercial Funding LLC announced the recent funding of a $3,127,600 loan under the Fannie Mae DUS product line for the 64-unit complex known as Avalon Apartments in Augusta, Ga.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.15 percent.
The loan was originated by John Edwards, vice president, in Arbor’s full-service Boston lending office. “We were pleased with the opportunity to provide financing for a repeat client of Arbor,” said Edwards. “The property is well-positioned in the market and we look forward to future opportunities with this long-term client.”