Arbor closes $1.43 million loan for Jersey Street Apartments

Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, recently closed on a $1.43 million loan under the Fannie Mae DUS Small Loan product line for the 42-unit complex known as Jersey Street Apartments. The 10-year loan amortizes on a 30-year schedule. The loan was originated by John Edwards, vice president, in Arbor's full service Boston, Mass. lending office. "This financing highlights the flexibility of the Small Loan Program," Edwards said. "We were pleased to have the opportunity to provide our client with the requested loan structure and dollars."