Uniondale, N.Y.-based Arbor Commercial Funding LLC, a subsidiary of Arbor Commercial Mortgage, recently placed funding for a $2.8 million Fannie Mae loan for the 32-unit River Street Apartments complex in Boston’s Mattapan neighborhood.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.92 percent, the company said.
The loan was originated by John Kelly, vice president, in Arbor’s Boston lending office. "This transaction demonstrates Arbor’s ability to continue to close multifamily loans on behalf of our clients at very favorable rates and terms," said Kelly. "And our client has done an excellent job of managing this asset for several years."
