New 17-unit development receives $1.9 million loan

August 18, 2011
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Arbor Commercial Funding, LLC (Arbor) announced it will fund a new 17-unit development at 466 Broadway in Chelsea with $1.9 million. The money for the Chelsea project is one of 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 from the Northeast to the Southeast.

Each of the loans was originated by John Kelly, vice president, in Arbor’s Boston office.

“In the case of these loans the respective borrowers were able to place long-term financing on well-maintained and managed assets,” said Kelly. “For these 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.”

Founded by Chairman and CEO Ivan Kaufman, Arbor Commercial Mortgage, LLC and Arbor Commercial Funding, LLC are national direct lenders specializing in the origination of debt and equity financing and servicing for multifamily and other diverse commercial assets. Arbor is a Top 10 Fannie Mae DUS lender and an FHA Multifamily Accelerated Processing (MAP) lender, consistently building on its reputation for service, quality and flexibility. With a current servicing portfolio of $8.1 billion, Arbor is a primary commercial loan servicer and special servicer rated by Fitch Ratings and Standard & Poor’s. Arbor is also on the Standard & Poor’s Select Servicer List.

Arbor Commercial Mortgage, LLC also manages Arbor Realty Trust, Inc., a real estate investment trust, (REIT), formed to invest in mortgage-related securities, real estate-related bridge, junior participating interests in first mortgages, mezzanine loans, preferred and direct equity investments and in limited cases, discounted mortgage notes and other real estate related assets. Arbor is headquartered in Uniondale, NY, with full-service lending offices throughout the United States.


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