Kelly of Arbor closes six Fannie Mae deals totaling $10.9 million

Arbor Commercial Funding, LLC has funded six loans totaling $10.9 million under the Fannie Mae DUS Loan, Fannie Mae DUS Small Loan and Fannie Mae DUS Affordable Housing Loan product lines. These loans include: * Logan and Astor Apartments, Norristown, PA: The 84-unit complex received $3.15 million. The 10-year refinance loan amortizes on a 30-year schedule. * 12 Chandler Ave., Taunton, Mass.: The 31-unit complex received $2.13 million. The 10-year loan amortizes on a 30-year schedule. * 466 Broadway, Chelsea, Mass.: The 17-unit complex received $1.9 million. The seven-year refinance loan amortizes on a 30-year schedule. * Woodville Plaza Apartments, Jackson, Miss.: The 96-unit complex received $1.17 million. The 10-year refinance loan amortizes on a 25-year schedule. * Magnolia Place Apartments, Windsor Locks, Conn.: The 31-unit complex received $1.5 million. The 10-year refinance loan amortizes on a 30-year schedule. * Austin Street Apartments, New Haven, Conn.: The 24-unit complex received $1.05 million. The 10-year refinance loan amortizes on a 30-year schedule. Each of the loans was originated by John Kelly, VP, in Arbor's full-service Boston, Mass., office. "In the case of the Chandler as well as Logan and Astor properties, the respective borrowers were able to place long-term financing on well-maintained and managed assets," Kelly said. "For the Magnolia Place and Austin St. properties, our clients were able to take advantage of Arbor's small balance program and the low interest rate environment to position the assets for the long-term."