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Arbor Closes $1.4M Loan For Hyde Park Apartments

Mar 10, 2010 | Reprints | Unlock Link | Print

A 16-unit complex known as Pyramid Apartments in Hyde Park has received a $1.4 million Fannie Mae loan from Arbor Commercial Funding, a subsidiary of Arbor Commercial Mortgage LLC of Uniondale, N.Y.

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.98 percent.

The loan was originated by John Kelly, vice president, in Arbor’s Boston lending office.

"Our client needed a commitment to close within 30 days of executing an application, and we met this timeline with time to spare," said Kelly. "Arbor’s platform continues to allow for small loans to be processed efficiently and for borrowers to take advantage of excellent loan terms. We look forward to future business with this client."

Residential Real Estate