In conjunction with its July 2016 acquisition of Arbor Commercial Mortgage LLC's agency platform, Arbor Realty Trust Inc. exercised the option to purchase the existing management contract and fully internalize the management structure.

On May 31, Arbor Realty Trust paid Arbor Commercial Mortgage $25 million plus certain accrued and unpaid compensation and reimbursable expenses. The management agreement was terminated according to the deal's terms.