Company: ABR-PF
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001253986-25-000022
Chunk: 167

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 167
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 and investments, net (6)$11,033,997 ________________________(1)“Weighted Average Pay Rate” is a weighted average, based on the unpaid principal balance (“UPB”) of each loan in our portfolio, of the interest rate required to be paid as stated in the individual loan agreements. Certain loans and investments that require an accrual rate to be paid at maturity are not included in the weighted average pay rate as shown in the table.(2)Including extension options, the weighted average remaining months to maturity at September 30, 2025 and December 31, 2024 was 20.3 and 22.7, respectively.(3)The “First Dollar Loan-to-Value (“LTV”) Ratio” is calculated by comparing the total of our senior most dollar and all senior lien positions within the capital stack to the fair value of the underlying collateral to determine the point at which we will absorb a total loss of our position.(4)The “Last Dollar LTV Ratio” is calculated by comparing the total of the carrying value of our loan and all senior lien positions within the capital stack to the fair value of the underlying collateral to determine the point at which we will initially absorb a loss.(5)At September 30, 2025 and December 31, 2024, bridge loans included 316 and 423, respectively, of SFR loans with a total gross loan commitment of $4.41 billion and $4.18 billion, respectively, of which $2.77 billion and $1.99 billion, respectively, was funded.(6)Excludes exit fee receivables of $42.3 million and $46.6 million at September 30, 2025 and December 31, 2024, respectively, which is included in other assets on the consolidated balance sheets.Concentration of Credit RiskWe are subject to concentration risk in that, at September 30, 2025, the UPB related to 64 loans with 5 different borrowers represented 9% of total assets. At December 31, 2024, the UPB related to 83 loans with 5 different borrowers represented 10% of total assets. During each of the three and nine months ended September 30, 2025 and the year ended December 31, 2024, no single loan or investment represented more than 10% of our total assets and no single investor group generated over 10% of our revenue. See Note 18 for details on our