York Funding

York Funding was founded in 2010 by a team of real estate lenders and investors with more than 50 years of combined experience originating and managing large pools of short-term commercial loans. York Funding’s leadership has achieved success by carefully preparing for and responding to market dislocations and identifying solid opportunities in marketplaces where traditional financial solutions are limited.

York Funding specializes in senior secured bridge lending, ultra- short transactional lending, cash flow REO properties and opportunistic deals. It provides short-term funding backed by first liens, full borrower guarantees and tangible exit strategies. Lending operations are mostly focused on one-to-four family houses, multi-family apartment buildings, and mixed-use properties, commercial properties, and new construction. Risk is mitigated through small loan sizes, low LTVs, strict underwriting, intimate market awareness, and careful ongoing diligence with borrowers. The majority of the firm’s business comes from repeat loans from its existing clients.

Performance Highlight

Since inception, York Funding has originated 186 loans, of which 125 have closed and 61 remain active. All of the 125 closed loans were repaid fully. Of the 61 active loans, 2 loans are non-performing and are in the process of foreclosure or insurance payment.


Peter Aytug

Co-Founder & Managing Partner, York Funding

Peter Aytug has been in the real estate business for more than 30 years. He co-founded York Funding in 2010 to provide Bridge Loans to real estate professionals who purchase short sales, bank owned REO properties, and distressed properties. Since 2009, Peter Aytug has personally owned and managed over a hundred properties nationwide.

From 1999 to 2009 he founded and managed Northern Funding, LLC. Northern Funding was engaged in financing real estate professionals with short-term commercial loans similar to York Funding. During his tenure at Northern Funding, Mr. Aytug closed approximately 3,300 loans with an aggregate value of $1.2Bn over an eight-year period. At any given time, the loan portfolio averaged in excess of $170M. During the Great Recession, Northern Funding’s portfolio experienced high level of defaults and Mr. Aytug diligently foreclosed on a large portion of its portfolio and finished the properties using its ability to step into the original borrower’s or developer’s shoes, successfully navigating the next few years and avoiding its investors who stuck with him from incurring heavy losses.

Prior to Northern Funding, from 1994 to June of 1999, Peter Aytug was part of Gala Resources, a company that is also similarly engaged in financing real estate investors. Prior to 1994, he formed Transaction Control Systems, a company that provided consulting services to Wall Street firms, which grew to 125 employees. From 1985 to 1994, Peter purchased, owned, and managed approximately forty income producing properties located in New York and New Jersey.

Rhea Stathatos

Co-Founder & Managing Partner, York Funding

Rhea Stathatos oversees the implementation and management of turnaround strategies at York Funding, which include rehabilitation and development, stabilizing and repositioning properties, loan workouts and restructurings, acquisitions and dispositions, leasing, operations management and servicing. Since 2009, Rhea Stathatos has owned and managed more than a hundred properties.

Prior to York Funding, Rhea spent six years working with various New York based real estate lenders and investors originating and managing large pools of short- term commercial loans. At any given time, the loan portfolio that Rhea managed was in excess of $60M. From 1996 to 2004 Rhea was employed by Gala Resources, a company similarly engaged in financing real estate investors, where she managed a loan portfolio that averaged $130M. Gala Resources closed 6,600 loans, totaling $1.2Bn.

From 1986 to 1996, Rhea Stathatos served as Director of Asset Management for Helmsley Spear Inc., overseeing the turnaround of distressed and opportunistic principal real estate transactions for the firm. These transactions included investments in multi-family, office, retail, hotels, self-storage, and commercial land.

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