Company: ABR-PF
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001628280-25-018236
Chunk: 66

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 66
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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 bears interest at SOFR plus 3.50%, and was scheduled to mature in August 2024, which was extended to February 2025. In February 2025, we modified this loan to extend the maturity three years in exchange for an immediate paydown of $0.3 million and an additional paydown of $1.7 million to be made on or prior to March 31, 2025, of which both were made timely.

In 2019, we converted an existing bridge loan into a $2.0 million mezzanine loan with a fixed interest rate of 10.00% and was scheduled to mature in January 2024, which was extended to January 2025. The underlying multifamily property is owned in part by a consortium of investors (which includes, among other unaffiliated investors, certain of our officers and our CEO) which owns interests ranging from 10.5% to 12.0% in the borrowing entities . In January 2025, the maturity was extended to May 2025.

In 2018, we originated a $21.7 million bridge loan on a multifamily property owned in part by a consortium of investors (which includes, among other unaffiliated investors, certain of our officers and our CEO) which owns 75% in the borrowing entity. The loan has an interest rate of SOFR plus 4.75% with a SOFR floor of 0.25%, and was scheduled to mature in November 2024, which was extended to February 2025. In the fourth quarter of 2024, we recorded a $5.5 million specific reserve on this loan. In February 2025, we modified this loan to extend the maturity two years in exchange for $3.0 million of additional collateral and a $2.5 million paydown to be made in February 2026.

In 2017, we originated a $46.9 million Fannie Mae loan on a multifamily property owned in part by a consortium of investors (which includes, among other unaffiliated investors, certain of our officers) which