Company: ABR-PF
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001253986-25-000014
Chunk: 109

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 109
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ATED FINANCIAL STATEMENTS (Unaudited)

The assets and liabilities related to these consolidated Securitization Entities are as follows (in thousands):June 30, 2025December 31, 2024Assets:Restricted cash$63,712 $131,381 Loans and investments, net4,711,084 5,898,102 Other assets77,344 95,442 Total assets$4,852,140 $6,124,925   Liabilities:Securitized debt$3,510,865 $4,622,489 Other liabilities9,332 15,255 Total liabilities$3,520,197 $4,637,744 Assets held by the Securitization Entities are restricted and can only be used to settle obligations of those entities. The liabilities of the Securitization Entities are non-recourse to us and can only be satisfied from each respective asset pool. See Note 10 for details. We are not obligated to provide, have not provided, and do not intend to provide financial support to any of the Securitization Entities.Unconsolidated VIEs. We determined that we are not the primary beneficiary of 63 VIEs in which we have a variable interest at June 30, 2025 because we do not have the ability to direct the activities of the VIEs that most significantly impact each entity's economic performance or substantially all of the activities do not involve, or are not conducted on behalf of, the Company.A summary of our variable interests in identified VIEs, of which we are not the primary beneficiary, at June 30, 2025 is as follows (in thousands):TypeCarrying Amount (1)Loans$1,639,936 APL certificates139,365 Equity investments33,390 B Piece bonds31,214 Agency interest only strips69 Total$1,843,974 ________________________(1)Represents the carrying amount of loans and investments before reserves. At June 30, 2025, $252.1 million of loans to VIEs had corresponding specific loan loss reserves of $90.7 million. The maximum loss exposure at June 30, 2025 would not exceed the carrying amount of our investment.These unconsolidated VIEs have exposure to real estate debt of approximately $4.81 billion at June 30, 2025.

Note 16 — Equity