Company: ABR-PF
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001253986-25-000014
Chunk: 80

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 80
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Note 9 — Real Estate Owned

A summary of our REO assets is as follows (in thousands):June 30, 2025December 31, 2024MultifamilyOfficeLandTotalMultifamilyOfficeLandTotalLand$81,364 $13,599 $7,947 $102,910 $29,171 $13,599 $7,947 $50,717 Building and intangible assets234,375 41,670 — 276,045 99,812 35,561 — 135,373 Less: Impairment loss— (2,500)— (2,500)— (2,500)— (2,500)Less: Accumulated depreciation and amortization(8,222)(3,047)— (11,269)(4,497)(2,550)— (7,047)Real estate owned, net$307,517 $49,722 $7,947 $365,186 $124,486 $44,110 $7,947 $176,543 At June 30, 2025, our REO assets were comprised of eleven 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 six months ended June 30, 2025, we foreclosed on three and ten, respectively, multifamily bridge loans with an aggregate net carrying value of $67.6 million and $260.3 million, respectively, (net of specific CECL reserves of $5.1 million and $9.1 million, respectively) and received ownership of the underlying collateral as REO assets. Upon foreclosure, during the three and six months ended June 30, 2025, we recognized a gain of $0.8 million and a loss of $1.0 million, respectively, which was recorded through (loss) gain on real estate on the consolidated statements of income.During the three and six months ended June 30, 2025, we sold one and three, respectively, multifamily REO assets for $7.0 million and $84.0 million, respectively, and repaid the mortgage notes outstanding of $49.1 million. During the three and six months ended June 30, 2025, we recognized a loss