Company: ABR-PF
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001253986-25-000022
Chunk: 80

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 80
---
.In April 2025, Wakefield entered into an agreement to sell its interest in the residential mortgage banking business for $117.3 million. Based on the terms of this agreement, $22.0 million was allocated to us, which is equivalent to the carrying value of our investment, and therefore we did not record a gain or loss on the transaction. The transaction closed once the entire sales price was paid, which was due in installments as follows: $15.0 million on or before April 1, 2025; $15.0 million on or before April 30, 2025; and the remaining $87.3 million on or before December 15, 2025. The first two installments were made in April, for which we received $5.6 million as our allocable share, and the final installment was made on July 31, 2025, for which we received $16.4 million as our allocable share. Lexford Portfolio. During the three and nine months ended September 30, 2025, we received distributions from this investment of $51.0 million and $54.4 million, respectively, and recognized income of $48.0 million and $51.4 million, respectively, net of $3.0 million in transaction related expenses. The distribution received in the third quarter of 2025 related to the sales of a portion of Lexford's multifamily asset portfolio. During the three and nine months ended September 30, 2024, we received distributions and recognized income of $4.9 million and $9.0 million, respectively.See Note 18 for details of certain investments described above.

Note 9 — Real Estate Owned

A summary of our REO assets is as follows (in thousands):September 30, 2025December 31, 2024MultifamilyOfficeLandTotalMultifamilyOfficeLandTotalLand$98,195 $13,599 $7,947 $119,741 $29,171 $13,599 $7,947 $50,717 Building and intangible assets325,176 44,546 — 369,722 99,812 35,561 — 135,373 Less: Impairment loss— (2,500)— (2,500)— (2,500)— (2,500)Less: Accumulated depreciation and amortization(12,321)(3,295