Company: ABR-PF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021683
Chunk: 67

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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2024, the weighted average interest rate for the credit and repurchase facilities of our Structured Business, including certain fees and costs, such as structuring, commitment, non-use and warehousing fees, was 7.10% and 7.43%, respectively. The leverage on our loan and investment portfolio financed through our credit and repurchase facilities, excluding the securities repurchase facility and the working capital facility, was 70% and 67% at March 31, 2025 and December 31, 2024, respectively.In March 2025, we entered into a $1.15 billion repurchase facility to finance the loans primarily held in our CLOs. This facility can be upsized to $1.25 billion within the first 90 days and has a 24-month reinvestment period through March 2027. The facility has an interest rate of SOFR plus 1.85% and matures at the latest maturity date of all purchased assets, which is currently February 2028. Additionally, this facility is approximately 88% non-recourse to us and has an 80% advance rate.In January 2025, we amended a $200.0 million repurchase facility to increase the facility size to $400.0 million and extend the maturity to January 2027, with a one-year extension option.Securitized DebtWe account for securitized debt transactions on our consolidated balance sheet as financing facilities. These transactions are considered VIEs for which we are the primary beneficiary and are consolidated in our financial statements. The investment grade notes and guaranteed certificates issued to third parties are treated as secured financings and are non-recourse to us.Borrowings and the corresponding collateral under our securitized debt transactions are as follows ($ in thousands):DebtCollateral (3)LoansCashMarch 31, 2025Face ValueCarryingValue (1)Wtd. Avg.Rate (2)UPBCarryingValueRestrictedCash (4)CLO 18$1,246,319 $1,244,153 6.42 %$1,619,662 $1,618,935 $— CLO 171,408,697 1,407,044 6.16 %1,796,122 1,795,594 — CLO 16598,767 597,360 5.98 %861,110 860,372 — Total CLOs