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24-Unit Dot Apt. Complex Gets $2M In Fannie Funds

Aug 17, 2009 | Reprints | Unlock Link | Print

A 24-unit aparment complex at 12 Bailey St. in Dorchester has secured $2 million in Fannie Mae funding.

Arbor Commercial Funding LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage LLC, secured the loan under the Fannie Mae DUS^®Small Loan product line. According to a statement, the 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.75 percent.

The loan was originated by John Kelly, Vice President, in Arbor’s full-service Boston, MA lending office. "Arbor was pleased to provide this new client with a refinance through our successful Small Loan program," said Kelly. "The owner has done an excellent job of managing the property and maintaining an excellent tenant base."

Residential Real Estate