...Arbor Realty Commercial Real Estate Notes 2025-BTR1, LLC (May 2025) The representations, warranties and enforcement (RW&E) mechanisms contained in the transaction's offering documents that are available to investors for Arbor Realty Commercial Real Estate Notes 2025-BTR1, LLC are substantially comparable to those typically contained in U.S. CRE-CLOs, as described in Fitch Ratings' special report, "Representations, Warranties and Enforcement Mechanisms in Global Structured Finance Transactions," dated Sept. 12, 2024. For this transaction, the key parties are: Arbor Realty Commercial Real Estate Notes 2025- BTR1, LLC, as issuer; J.P. Morgan, as sole structuring agent; Arbor Realty SR, Inc., as mortgage loan seller; Arbor Realty Collateral Management, LLC, as collateral manager; Trimont LLC, as master servicer; Arbor Multifamily Lending, LLC, as special servicer; Wilmington Trust, National Association, as trustee; and Computershare Trust Company, National Association, as note administrator....
