ARBOR ARRANGES THREE FANNIE MAE LOANS TOTALING $12.51 MILLION

UNIONDALE, N.Y. — Uniondale-based Arbor Commercial Funding has arranged three Fannie Mae loans for multifamily properties located throughout the Northeast. In the first deal, John Kelly of Arbor's Boston office secured $4.8 million under the lender's DUS program for Pastorius Court Apartments, a 42-unit property located in Philadelphia. In the second deal, Brian Scharf of Arbor's Uniondale office secured $4.56 million under Fannie Mae's 3Max product line for a 60-unit property located at 655 E. 233rd Street in the Bronx, New York City. In the final deal, Edward Petti of Arbor's New York City office secured a $3.15 million DUS loan for Northbrook Apartments, a 66-unit community located in Bridgeport, Conn. All three loans carry 30-year amortization schedules. The first two loans carry 10-year terms, and the third loan carries a 7-year term.