Company: ABR-PF
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001253986-25-000022
Chunk: 196

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 196
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 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)— (15,616)(4,497)(2,550)— (7,047)Real estate owned, net$411,050 $52,350 $7,947 $471,347 $124,486 $44,110 $7,947 $176,543 At September 30, 2025, our REO assets were comprised of twelve multifamily properties, two office buildings and two land parcels. At December 31, 2024, our REO assets were comprised of four multifamily properties, two office buildings and two land parcels.During the three and nine months ended September 30, 2025, we foreclosed on two and twelve multifamily bridge loans, respectively, with an aggregate net carrying value of $107.8 million and $368.1 million, respectively, (net of specific CECL reserves of $16.6 million and $25.7 million, respectively) and received ownership of the underlying collateral as REO assets. Upon foreclosure, during the three and nine months ended September 30,