Arbor Commercial funds $22 million loan for 302-unit Brook Arbor Apartments

Arbor Commercial Funding, LLC, a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, recently funded a $22 million loan under the Fannie Mae DUS product line for the 302-unit complex known as Brook Arbor Apartments. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.68%. Joseph Donovan, senior vice president, production management, in Arbor's full-service Boston lending office said, "We were pleased to deliver a loan amount, terms and pricing that met our valued client's needs."