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Arbor Closes $4M Loan For Quincy Apartments

Jul 23, 2009 | Reprints | Unlock Link | Print

The 54-unit Green Realty Apartments complex in Quincy recently received a $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 5.95 percent, according to Arbor.

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

"This transaction represents our flexibility in providing a single mortgage across assets scattered within the same market," said Kelly. "Our client has owned the properties for 20+ years and has done an excellent job of maintaining a strong tenant base, including some long-term commercial tenants."

Commercial & Industrial