Arbor closes $1.08 million Fannie Mae loan for Fitchburg Portfolio
Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, recently funded a $1.08 million loan using Fannie Mae's DUS 3MaxExpress product to refinance the 23-unit complex known as Fitchburg Portfolio.
The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.97 percent.
The loan was originated by John Kelly, director, in Arbor's full-service Boston lending office. "Our client had a successful track record of operating these units over the long term," said Kelly. "This refinance positions the client for enduring success in maintaining quality rental units in this market."
Cambridge, MA The nonprofit Preservation of Affordable Housing (POAH) has secured $23.5 million in financing from Rockland Trust and Citizens Bank to transform a 150-year-old, underutilized church complex into housing. The project will ultimately create 46 affordable family-sized apartments.
The Connecticut hospitality market has demonstrated uneven recovery patterns between 2019 and 2025, with boutique and historic properties achieving $125 RevPAR in 2025, up 8.7% from the 2019 level. Coastal resort properties achieved a $105 RevPAR in 2025, representing 10.5% growth since 2019. Casino corridor properties maintained modest growth with RevPAR improving 4.5% to $92 in 2025.
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