Uniondale, N.Y.-based Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, recently closed on a $1.96 million Fannie Mae loan for a 16-unit apartment complex at 106 Wrentham St. in Boston.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.70 percent, Arbor said.
The loan was originated by John Kelly, vice president, in Arbor’s Boston lending office. "Arbor continues to be a market leader in being able to deliver small balance loans with excellent financing terms in a timely manner," Kelly said. "This transaction was for a repeat client who does an excellent job managing all of his assets."
