Deal of the Day: Arbor Provides Three Loans Worth More Than $55M

By Anuradha Kher, Online News EditorSan Antonio, Boston, Milford, N.H.–Arbor Commercial Funding LLC recently completed funding of three loans totaling $55,692,000 under the Fannie Mae DUS product line to finance rental properties totaling 1,115 units. The four properties, Rolling Ridge Apartments in San Antonio, Woodland Heights and Laurel Hills in Milford, N.H., and 480 and 490 Norfolk St. in Boston, are owned by Boston-based Mayo Group.Each of the three five-year loans amortizes on a 30-year schedule and carries a note rate of 5.11 percent. “Arbor was pleased to have the opportunity to work with the Mayo Group, one of Boston’s largest national owners and developers of multifamily properties,” says John Kelly, director at Arbor’s Boston office. “Mayo’s execution of their property management plans shows with each one of the communities. We very much appreciate the client’s trust in our ability to deliver as promised, and we look forward to the opportunity to continue to grow this financial partnership.”