ARBOR CLOSES $2.86 MILLION MULTIFAMILY LOAN IN MINNESOTA

MANKATO, MINN. — Arbor Commercial Funding, a wholly owned subsidiary of Arbor Commercial Mortgage, has funded a $2.86 million loan for Village Place Apartments in Mankato. The complex offers 70 apartment units. Funded under the Fannie Mae DUS Small Loan product line, the 10-year loan carries a 30-year amortization schedule. Patrick McNulty of Arbor's Chicago office originated the loan.