Arbor’s FHA Multifamily Lending Business Expansion Bolstered with Hiring of Two More Originators
- Aug 14, 2012
Uniondale—Arbor Commercial Mortgage LLC, a direct commercial real estate lender originating on a national basis, has expanded its multifamily FHA loan origination capabilities further with the appointment of two experienced FHA Originations Directors in the company’s Boulder, Colo., and Chicago offices.
Andrew Proctor and Jason Gray were each appointed as FHA originations directors in Arbor’s Boulder, Colo., and Chicago offices, respectively. Both are responsible for originating FHA-insured multifamily, seniors housing and healthcare facility loans nationwide on an expedited basis for acquisition, refinance and construction transactions. They both report to Joseph Donovan, senior vice president, director of FHA lending.
Proctor has more than 15 years of experience in multifamily commercial real estate. Previous to Arbor, he was president of Proctor Community Enterprises where he provided comprehensive housing finance and community development services. While there, he assisted clients by coordinating the acquisition, financial analysis, project management and financing of properties throughout the state of Colorado and elsewhere. Earlier in his career, Proctor worked for the City of Boulder, Colo., as housing division manager; the City of Denver as housing development manager; and the State of Colorado as housing development specialist in the state’s Housing Division.
Proctor received a Master of Public Administration degree from the University of Colorado, specializing in Urban Planning and Community Development, and a Bachelor of Arts degree in Urban Geography from San Jose State University where he graduated Magna Cum Laude. He resides in Boulder, Colo.
Gray most recently worked at Oppenheimer Multifamily and Healthcare Finance, where he was an associate director of origination. While there, he successfully developed a nationwide portfolio of clients, while focusing on seniors housing and FHA loan origination. Previously, Gray was a business development associate at Cambridge Realty Capital, where he was responsible for originating debt and equity opportunities in the Midwest with a specific focus on seniors housing in Indiana, Michigan, Illinois, Minnesota and Missouri.
Gray received a Bachelor of Liberal Studies degree, with an emphasis in Business and Mathematics, from Iowa State University. He resides in Chicago. As an approved FHA MAP and LEAN Lender, Arbor provides all FHA-insured multifamily and healthcare facility loan programs on an expedited basis. Arbor also offers the unique “Bridge to HUD/FHA” program. This program is designed to effectively solve the timing issue associated with closing FHA loans by providing a bridge loan to facilitate a quick closing on an acquisition. Borrowers who are looking to complete repairs and/or reposition a property can also use a bridge loan to facilitate a maximum FHA refinance loan.