Arbor Closes $1.615M Fannie Mae Small Loan for Apartment Complex
- Mar 15, 2010
Seymour, Conn.–Arbor Commercial Funding LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage LLC, recently helped fund a $1,615,000 loan under the Fannie Mae DUS product line for the 43-unit Sunny Knoll Apartments in Seymour, Conn.
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 Kelly, vice president, in Arbor’s full-service Boston lending office. “Arbor was pleased to finance this asset that has been family-owned for a generation,” said Kelly. “The refinance allowed for the client to execute a capital improvement plan for continued property enhancement. We look forward to our next opportunity to work with this well-positioned ownership group.”