Company: ABR-PF
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001253986-25-000014
Chunk: 145

Company: ARBOR REALTY TRUST INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 145
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 net of recoveries.

(Loss) Gain on Real Estate

The loss on real estate in 2025 is substantially comprised of losses on below market debt totaling $1.5 million related to financing on the sale of several REO assets. The $3.8 million gain on real estate in 2024 represents the gain recognized on the sale of an REO asset.

Income from Equity Affiliates

Income from equity affiliates in 2025 primarily reflects a $3.4 million distribution received from our Lexford joint venture, partially offset by a $1.0 million loss from our AMAC III investment; while income in 2024 primarily reflects a $4.2 million distribution received from Lexford, partially offset by losses from our investments in a residential mortgage banking business and AMAC III totaling $1.5 million.

Provision for Income Taxes

In the three months ended June 30, 2025, we recorded a tax provision of $3.4 million, which consisted of a current tax provision of $5.0 million and a deferred tax benefit of $1.6 million. In the three months ended June 30, 2024, we recorded a tax provision of $3.9 million, which consisted of a current tax provision of $6.8 million and a deferred tax benefit of $2.9 million. 

Net Income Attributable to Noncontrolling Interest

The noncontrolling interest relates to the outstanding OP Units (see Note 16). There were 16,173,761 and 16,293,589 OP Units outstanding at June 30, 2025 and 2024, respectively, which represented 7.8% and 8.0% of our outstanding stock at June 30, 2025 and 2024, respectively.

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Comparison of Results of Operations for the Six Months Ended June 30, 2025 and 2024

The following table provides our consolidated operating results ($ in thousands):

Six Months Ended June 30, Increase / (Decrease) 2025 2024Amount Percent Interest income$480,997 $618,480 $(137,483)(22)%Interest expense336,829 426,903 (90,074)(21)%Net interest income144,168 191,577 (47,409)(25)%Other revenue:   Gain on sales, including fee-based services, net26,439 34,114 (7,675)(22)%