Tuesday, July 1, 2008

West Miami Hotel to Re-Launch as Miami Mart Airport Hotel

MIAMI, FL –– The Sheraton Miami Mart Hotel (top right photo) has converted to the new Miami Mart Airport Hotel, effective June 26, 2008, offering both business and leisure travelers a convenient and comfortable place to stay.

The hotel, located just three miles from Miami International Airport, (bottom right photo) provides complimentary round-trip shuttle service to hotel guests.

The Miami Mart Airport Hotel will retain its new name until a new brand is selected in the near future.

Offering 24,160 square feet of flexible meeting space, the hotel can host functions ranging from corporate events to weddings. Featuring dedicated event space and a conference center which is connected to the hotel, the Miami Mart Airport Hotel presents the best in service and convenience for meeting planners and attendees.

“We are eager to unveil our new hotel name – furthermore, we are deeply committed to bringing our guests the same level of quality, service and experience as they have come to expect from an Interstate Hotels & Resorts-managed hotel,” said General Manager Raul Aguilera.

“When a guest chooses to stay with us at the Miami Mart Airport Hotel, our dedication to top-notch service and loyalty to our guests will leave a positive lasting impression.”

Located near the Blue Lagoon business district and 15 miles west of downtown Miami, the hotel is close to many corporations including: Bell South, Florida Power & Light, Ricoh Latin America, and IBM, among others. Guests can enjoy both sporting and leisure activities in close proximity, as the hotel is situated only a few miles from both.

Fontainebleau Golf Course and Doral Golf Resort & Spa. (middle left photo) Or, guests have the opportunity to take in a fast-paced Miami Heat game at American Airlines Arena or an action-packed game at Dolphin Stadium.

The west Miami hotel offers 334 comfortable guestrooms, all equipped with high-speed Internet access.

Hotel amenities include a tropical outdoor pool and state-of-the-art fitness center, for the comfort and convenience of their guests. Hotel guests also may enjoy a delicious meal at the on-site, full-service restaurant, Impressions.

The Miami Mart Airport Hotel is situated approximately three miles from Miami International Airport.

Local attractions include Bayside Market Place, (bottom right photo) James L. Knight Center, Orange Bowl Stadium, and Parrot Jungle. Hotel amenities include complimentary airport shuttle, 24-hour room service, laundry/dry cleaning, housekeeping, business center, beauty salon, printing mart, safe deposit box, and baggage storage. Visit the hotel online: http://www.miamimartairporthotel.com/ww.miamimartairporthotel.com/.

The Miami Mart Airport Hotel is operated by Interstate Hotels & Resorts, the nation’s largest independent hotel management company. For more information about Interstate Hotels & Resorts, visit the company’ Web site: http://www.ihrco.com/.


Julie Tullbane, Daly Gray Public Relations, T 703-435-6293. F 703-435-6297

Raul Aguilera, General Manager, Miami Mart Airport Hotel, (305) 261-3800 raul.aguilera@ihrco.com

Arbor Closes $2.1M Fannie Mae DUS® 3MaxExpress® Loan on Horizon Apartments in Hilliard, OH

UNIONDALE, NY-- Arbor Commercial Funding, LLC (“Arbor”), a wholly-owned subsidiary of Arbor Commercial Mortgage, LLC, has funded a $2,100,000 loan under the Fannie Mae DUS® 3MaxExpress® product line to refinance the 76-unit complex known as Horizon Apartments (above photo) in Hilliard, OH. DUS and 3MaxExpress are registered marks of Fannie Mae

The 10-year loan amortizes on a 30-year schedule and carries a note rate of 6.43 percent.
The loan was originated by Alex Kaushansky, (top right photo) Director, in Arbor’s full-service New York City lending office.

“The borrower was pleased with Arbor's ability to deliver in a volatile period,” said Kaushansky. “This loan has helped the borrower maintain a low interest rate and optimum term portfolio.”

Arbor Commercial Funding, LLC, Arbor Commercial Mortgage, LLC, and Arbor Realty Trust, Inc., have extensive experience in mortgage origination, servicing and securitization and have built a reputation for service, quality and flexibility.
Arbor’s seasoned management team specializes in debt and equity financing for multifamily, office, retail, hotel and various other commercial real estate properties. The company offers a broad array of financing options including Fannie Mae DUS®, FHA, CMBS, Bridge and Mezzanine products. Currently, Arbor services approximately $3 billion in loans. Arbor is a rated Standard & Poor’s third-party commercial loan and special servicer.

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

Ingrid Principe, Tel: (516) 506-4298. Arbor Commercial Mortgage, LLC Arbor Realty Trust, Inc. 333 Earle Ovington Blvd, Suite 900 Uniondale, NY 11553.

Commercial/Multifamily Delinquency Rates: Mixing Performance Measures Gives a Misleading Picture of Commercial Property Loan Performance

WASHINGTON, DC (July 1, 2008)--The Mortgage Bankers Association (MBA) released today its most recent Commercial/Multifamily Research DataNote, which examines federally published data on banks' commercial/multifamily mortgage delinquency rates.

The DataNote finds that some of these series include construction loans, including those for single-family and other construction and development projects.

The inclusion of these loans greatly inflates the delinquency rates reported for commercial and multifamily real estate loans. Once construction and development loans are excluded, commercial and multifamily mortgages have delinquency levels that are close to historic lows.

(MBA's headquarters building in Washington, DC is at top right)

Research DataNotes are produced by MBA's research and economics staff to provide periodic insights into important issues within the real estate finance industry. Please visit the following Web link to review this Research DataNote:

Should you have questions, please contact Jason Vasquez at (202) 557-2950 or jvasquez@mortgagebankers.org