Company: ABR-PF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021683
Chunk: 179

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 179
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 are as follows (in thousands):March 31, 2025December 31, 2024Assets:Restricted cash$14,441 $131,381 Loans and investments, net4,357,314 5,898,102 Other assets67,919 95,442 Total assets$4,439,674 $6,124,925   Liabilities:Securitized debt$3,286,395 $4,622,489 Other liabilities10,619 15,255 Total liabilities$3,297,014 $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 53 VIEs in which we have a variable interest at March 31, 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.

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Table of ContentsARBOR REALTY TRUST, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

A summary of our variable interests in identified VIEs, of which we are not the primary beneficiary, at March 31, 2025 is as follows (in thousands):TypeCarrying Amount (1)Loans$1,191,624 APL certificates137,913 Equity investments34,861 B Piece bonds31,512 Agency interest only strips82 Total$1,395,992 ________________________(1)Represents the carrying amount of loans and investments before reserves. At March 31, 2025, $221.6 million of loans to VIEs had corresponding specific loan loss reserves of $88.5 million. The maximum loss exposure at March 31, 2025 would not exceed the carrying amount of our investment.These unconsolidated VIEs have exposure to real estate debt of approximately $4.41 billion at