Company: ABR-PF
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021683
Chunk: 186

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 186
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 Interest 

37

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

income recorded from this loan was $0.1 million and $0.2 million for the three months ended March 31, 2025 and 2024, respectively. In February 2025, the original $46.2 million bridge loan was refinanced with a new $52.6 million bridge loan ($10.1 million was funded at March 31, 2025). The new loan has an interest rate of SOFR plus 4.75% and matures in February 2027. Interest income recorded from this loan was $0.1 million for the three months ended March 31, 2025.In 2022, we committed to fund a $67.1 million bridge loan ($45.5 million was funded at March 31, 2025) in an SFR build-to-rent construction project. An entity owned by an immediate family member of our chief executive officer also made an equity investment in the project and owns a 2.25% equity interest in the borrowing entity. The loan has an interest rate of SOFR plus 4.63% with a SOFR floor of 0.25% and was scheduled to mature in May 2025, which was extended to May 2026.  Interest income recorded from this loan was $1.0 million and $0.1 million for the three months ended March 31, 2025 and 2024, respectively.In 2022, we committed to fund a $39.4 million bridge loan ($35.6 million was funded at March 31, 2025) in an SFR build-to-rent construction project. An entity owned by an immediate family member of our chief executive officer also made an equity investment in the project and owns a 2.25% equity interest in the borrowing entity. The loan has an interest rate of SOFR plus 4.00% with a SOFR floor of 0.25% and was scheduled to mature in March 2025, which was extended to March 2026. Interest income recorded from this loan was $0.7 million and $0.3 million for the three months ended March 31, 2025 and 2024, respectively.In 2021, we invested $4.2 million for 49.3%