Company: ABR-PF
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001253986-25-000022
Chunk: 238

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 238
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, and less than $0.1 million and $0.2 million for the three and nine months ended September 30, 2024, respectively. In 2019, we, along with ACM, certain executives of ours and a consortium of independent outside investors, formed AMAC III, a multifamily-focused commercial real estate investment fund sponsored and managed by our chief executive officer and one of his immediate family members. We committed to a $30.0 million investment for an 18% interest in AMAC III. During the three and nine months ended September 30, 2025, we recorded a loss associated with this investment of $0.8 million and $2.6 million, respectively, and $0.5 million and $1.7 million for the three and nine months ended September 30, 2024, respectively. During the nine months ended September 30, 2025 we made contributions of $0.9 million. During the nine months ended September 30, 2024 we made contributions of $2.6 million. In 2019, AMAC III originated a $7.0 million mezzanine loan to a borrower with which we have an outstanding $34.0 million bridge loan. In 2020, for full satisfaction of the mezzanine loan, AMAC III became the owner of the property. Also in 2020, the $34.0 million bridge loan was refinanced with a $35.4 million bridge loan, which has an interest rate of SOFR plus 3.50%, and was scheduled to mature in February 2025. In February 2025, we modified this loan to extend the maturity to February 2028 in exchange for a $2.0 million paydown that was made in the first quarter of 2025. In September 2025, the loan was modified to extend the maturity date to July 2028, adjust the interest rate to SOFR plus 1.00% with an all-in floor of 6.50%, and include a fixed pay rate of 1.00%, effective June 1, 2025, with the remaining balance deferred. Interest income recorded from the bridge loan was de minimus and $1.2 million for the three and nine months ended September 30, 2025, respectively, and $0.8 million and $2.4 million for the three and nine months ended September 30, 2024, respectively. In 2019,