Company: ABR-PF
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001253986-25-000022
Chunk: 19

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 2
Chunk 19
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 in credit and repurchase facilities with several different banks that we have long-standing relationships with. At September 30, 2025, we had $1.51 billion of debt from credit and repurchase facilities that were subject to margin calls related to changes in interest spreads. 

At October 29, 2025, we had approximately $420 million in cash and liquidity. In addition to our ability to extend our credit and repurchase facilities and raise funds from equity and debt offerings, we also have a $35.17 billion agency servicing portfolio at September 30, 2025, which is mostly prepayment protected and generates approximately $127 million per year in recurring gross cash flow.

To maintain our status as a REIT under the Internal Revenue Code, we must distribute annually at least 90% of our REIT-taxable income. These distribution requirements limit our ability to retain earnings and thereby replenish or increase capital for operations. However, we believe that our capital resources and access to financing will provide us with financial flexibility and market responsiveness at levels sufficient to meet current and anticipated capital and liquidity requirements.

Cash Flows. Cash flows provided by operating activities totaled $389.3 million during the nine months ended September 30, 2025 and consisted primarily of net income (adjusted for the increase in CECL reserves of $62.0 million) of $193.7 million and net cash inflows of $113.0 million from loan sales exceeding loan originations in our Agency Business.

Cash flows used in investing activities totaled $727.6 million during the nine months ended September 30, 2025. Loan and investment activity (originations and payoffs/paydowns) comprise the majority of our investing activities. Loan originations from our Structured Business totaling $2.43 billion, net of payoffs and paydowns of $1.70 billion, resulted in net cash outflows of $727.1 million.

Cash flows provided by financing activities totaled $224.5 million during the nine months ended September 30, 2025 and consisted primarily of net cash inflows of $582.8 million from debt facility activities (financed loan originations were greater than facility paydowns), $500.0 million cash inflow from issuance of senior unsecured notes and net cash inflows of $98.6 million from mortgage notes payable activities (proceeds exceeded payoffs and paydowns), partially offset by $446.0 million of net securitized debt activity (payoffs and pay