Company: ABR-PF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021683
Chunk: 69

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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 6.59%, respectively, and the Q Series securitization was 7.48% and 7.46%, respectively. (3)At March 31, 2025 and December 31, 2024, 43 and 46 loans, respectively, with a total UPB of $1.72 billion and $1.60 billion, respectively, were deemed a "credit risk" as defined by the CLO indentures. A credit risk asset is generally defined as one that, in the CLO collateral manager's reasonable business judgment, has a significant risk of becoming a defaulted asset.(4)Represents restricted cash held for principal repayments as well as for reinvestment in the CLOs. Does not include restricted cash related to interest payments, delayed fundings and expenses totaling $14.4 million and $43.4 million at March 31, 2025 and December 31, 2024, respectively.(5)The replenishment period for all CLOs has ended as follows: CLO 14 - September 2023, CLO 16 – March 2024, CLO 19 – May 2024, CLO 17 – June 2024, and CLO 18 – August 2024.CLO 14 and 19. In March 2025, we unwound CLO 14 and 19, redeeming the remaining outstanding notes totaling $1.08 billion, which were repaid from a new $1.15 billion repurchase facility. We expensed $2.3 million of deferred financing fees related to the unwind of these CLOs, into loss on extinguishment of debt on the consolidated statements of income.Securitization Paydowns. During the three months ended March 31, 2025, outstanding notes totaling $247.4 million on our existing CLOs and $12.7 million on the Q Series securitization have been paid down.Senior Unsecured NotesA summary of our senior unsecured notes is as follows ($ in thousands):SeniorUnsecured NotesIssuanceDate March 31, 2025December 31, 2024MaturityUPBCarryingValue (1)Wtd. Avg.Rate (2)UPBCarryingValue (1) Wtd. Avg.Rate (2)    9.00% Notes (3)Oct. 2024Oct. 2027$100,000 $98,