(To read more on the debt and equity markets, click here.)

UNIONDALE, NY-Arbor Realty Trust reported a 296% net-incomeincrease over 2004 results. The REIT is looking forward to twolarge loan transactions in New York City that are expected to closein the third quarter.

"We have an unwavering commitment to build," said Ivan Kaufman,the firm's chairman and chief executive officer, during thecompany's quarterly conference call. "We have a long-termcommitment to create value, to build and enhance franchisevalue."

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