Edwards of Arbor closes $13.987 million Fannie Mae loan for 256-unit complex

Arbor Commercial Funding, LLC funded a $13.987 million loan under the Fannie Mae DUS loan product line for the 256-unit complex known as Angelo's Grove Apartments. The 10-year loan amortizes on a 30-year schedule and carries a note rate of 5.75%. The loan was originated by John Edwards, VP, in Arbor's full-service Boston, Mass. lending office.