Company: ABR-PF
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001253986-25-000022
Chunk: 61

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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,129 Three Months Ended September 30, 2024Nine Months Ended September 30, 2024Beginning balance (14 and 24 multifamily bridge loans, respectively)$367,938 $956,917 Loans that progressed to greater than 60 days past due(110,399)(549,249)Loans modified or paid off(95,506)(946,976)Additional loans classified as non-accrual157,194 858,535 Ending balance (10 multifamily bridge loans)$319,227 $319,227 At September 30, 2025 and December 31, 2024, there were four loans and one loan, respectively, included in the table above, with a UPB of $98.5 million and $32.0 million, respectively, that have specific reserves totaling $15.3 million and $5.0 million, respectively.We recorded interest income on non-performing and other non-accrual loans of $2.7 million and $12.5 million during the three and nine months ended September 30, 2025, respectively, and $5.0 million and $21.6 million during the three and nine months ended September 30, 2024, respectively.We have ten bridge loans to the same borrower collateralized by multifamily properties with a UPB and net carrying value totaling $444.8 million and $442.1 million at September 30, 2025, respectively, and a weighted average interest rate of SOFR plus 3.25%. In the first quarter of 2025, the borrower was experiencing financial difficulty, and we modified these loans to a weighted average pay rate and weighted average deferred rate of SOFR plus 1.70% and 1.55%, respectively, which stepped up to a weighted average pay rate and weighted average deferred rate of SOFR plus 2.20% and 1.05%, respectively, at June 30, 2025. In the third quarter of 2025, as the borrower continued to experience financial difficulty, we entered into a second modification that granted a forbearance of the borrower’s third quarter pay rate of interest, which totaled approximately $8 million for the three months ended September 30, 2025, and deferred payment of this amount until the maturity date of the loans. We also further modified these loans to a weighted average pay rate equal to SOFR and a weighted average deferred rate of 3.25%,