Company: ABR-PF
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001253986-25-000014
Chunk: 120

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 120
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 for an 18% interest in AMAC III. During the three and six months ended June 30, 2025, we recorded a loss associated with this investment of $1.0 million and $1.9 million, respectively, and $0.7 million and $1.2 million for the three and six months ended June 30, 2024, respectively. During the six months ended June 30, 2025 we made contributions of $0.9 million. During both the three and six months ended June 30, 2024 we made contributions of $2.6 million. In 2019, AMAC III originated a $7.0 million mezzanine loan to a borrower with which we have an outstanding $34.0 million bridge loan. In 2020, for full satisfaction of the mezzanine loan, AMAC III became the owner of the property. Also in 2020, the $34.0 million bridge loan was refinanced with a $35.4 million bridge loan, which has an interest rate of SOFR plus 3.50%, and was scheduled to mature in February 2025. In February 2025, we modified this loan to extend the maturity to February 2028 in exchange for a $2.0 million paydown that was made in the first quarter of 2025. Interest income recorded from the bridge loan was $0.7 million and $1.3 million for the three and six months ended June 30, 2025, respectively, and $0.8 million and $1.6 million for the three and six months ended June 30, 2024, respectively.In 2019, we converted an existing bridge loan into a $2.0 million mezzanine loan with a fixed interest rate of 10.00%. The underlying multifamily property is owned in part by a consortium of investors (which includes, among other unaffiliated investors, certain of our officers and our chief executive officer) which owns interests ranging from 10.5% to 12.0% in the borrowing entities. The loan was scheduled to mature in May 2025, which was extended to February 2029. Interest income recorded from this loan was less than $0.1 million and $0.1 million for the three and six months ended June 30, 2025, respectively, and less than $0.1 million and $0.1 million for the three and six months ended