Arbor Commercial Mortgage, LLC

Real Estate Weekly, June 1, 2005

Arbor Commercial Mortgage, LLC announced the following transactions:

* A $1.72 million loan for a 40-unit apartment complex in Portland, Me. The loan featured a 6.15% rate, a 10-year term and a 30-year amortization schedule. John Edwards negotiated this transaction;

* A $2.85 million loan for a 128-unit apartment complex in Mauldin, South Carolina. The loan featured a 5.55% rate, a 10-year term and a 30-year amortization schedule. Mark Fogel negotiated this transaction;

* A $1.25 million loan for a 205-unit apartment complex in San Antonio, Texas. The loan featured a 6.23% rate, a five-year term and a 30year amortization schedule;

* A $5.6 million loan for a 66-unit apartment complex in Bellingham, WA.