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Arbor Provides 1.1-Mil Financing for 25-Unit Multifamily

LOWELL, MA-Arbor Commercial Mortgage LLC provides a $1.1-million loan to finance the acquisition of Aiken Street Apartments, a 25-unit complex here. This is the eighth property the company has financed in Massachusetts.

By Naomi Grossman | Updated on August 07, 2001

LOWELL, MA-The 1.1-million loan for Aiken Street Apartments, was funded under Arbor’s Fannie Mae DUS 5-50 product line. The 10-year non-recourse loan amortizes on a 30-year schedule and carries a note rate of 7.30%. Paul Morehouse, vice president in Arbor’s Boston office, originated the loan.

Arbor provides debt and equity financing for multifamily apartment complexes, senior and affordable housing, hotels, office, industrial and retail properties. The company, headquartered in Uniondale, NY, has offices across the country. It offers a variety of financing options, including FHA, Fannie Mae and structured financing programs, such as bridge and mezzanine financing. Currently, Arbor services more than $1.5 billion in loans.

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