Company: ABR-PF
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001253986-25-000022
Chunk: 81

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 81
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)— (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, 2025, we charged off $16.6 million and $25.0 million, respectively, of CECL reserves and recovered $0.7 million for the nine months ended September 30, 2025. Additionally, we recognized a loss of $1.7 million, which was recorded through (loss) gain on real estate on the consolidated statements of income during the nine months ended September 30, 2025.During the three and nine months ended September 30, 2025, we sold one and four multifamily REO assets, respectively, for $10.1 million and $94.1 million, respectively, and during the nine months ended September 30, 2025, repaid mortgage notes outstanding of $49.1 million. During the three and nine months ended September 30, 2025, we recognized a loss of $0.2 million and a gain of $1.6 million, respectively, excluding the loss associated with the significant financing component discussed below. Additionally, we provided new bridge loan financing to the new borrowers totaling $10.1 million and $93.6 million, respectively. The bridge loans bear interest as follows: One loan has a fixed rate of 4.75% for the first year, 5.50% for the second year and 6.00% for the third year, one loan bears interest at a rate of SO