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Arbor Closes $1.9M Loan For Boston Apartments

Jan 8, 2010 | Reprints | Unlock Link | Print

A 7-unit complex known as 717-719 Parker St. in Boston has received a $1.9 million Fannie Mae loan from Arbor Commercial Funding, a subsidiary of Arbor Commercial Mortgage LLC of Uniondale, N.Y.

The 5-year loan amortizes on a 30-year schedule and carries a note rate of 5.57 percent.

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

"This transaction represented Arbor’s continued strong presence in closing deals via our small loan program," said Kelly. "This repeat client was able to secure long-term debt for another successfully renovated project and help us to further grow this financial partnership."

Residential Real Estate