Arbor Realty Trust Amends Financing Facility
UNIONDALE, N.Y., Sept. 11 /PRNewswire-FirstCall/ -- Arbor Realty Trust, Inc. (NYSE: ABR), a real estate investment trust focused on the business of investing in real estate related bridge and mezzanine loans, preferred and direct equity investments, mortgage-related securities and other real estate related assets, today announced that it has amended one of its financing facilities. The amendment includes increasing the committed amount outstanding to $100 million from $50 million, adding the ability to finance junior participation interests and a reduction in borrowing costs of approximately 50 to 75 basis points depending on the type of asset financed. The term of the facility has also been extended to a maturity of September 2008 from December of 2007.
"We are very pleased to have executed this amendment which continues to demonstrate the strong relationships we have with our financial institutions," said Ivan Kaufman, Chairman and Chief Executive Officer of Arbor.
About Arbor Realty Trust, Inc.
Arbor Realty Trust, Inc. is a real estate investment trust which invests in a diversified portfolio of multi-family and commercial real estate related bridge and mezzanine loans, preferred equity investments, mortgage related securities and other real estate related assets. Arbor commenced operations in July 2003 and conducts substantially all of its operations through its operating partnership, Arbor Realty Limited Partnership and its subsidiaries. Arbor is externally managed and advised by Arbor Commercial Mortgage, LLC, a national commercial real estate finance company operating through 11 sales and origination support offices in the US that specializes in debt and equity financing for multi-family and commercial real estate.
Safe Harbor Statement
Certain items in this press release may constitute forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Arbor can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Arbor's expectations include, but are not limited to, continued ability to source new investments, changes in interest rates and/or credit spreads, changes in the real estate markets, and other risks detailed in Arbor's Annual Report on Form 10-K for the year ended December 31, 2006 and its other reports filed with the SEC. Such forward- looking statements speak only as of the date of this press release. Arbor expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Arbor's expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.
SOURCE Arbor Realty Trust, Inc.
CONTACT: Paul Elenio, Chief Financial Officer, +1-516-832-7422,
pelenio@arbor.com, Media, Bonnie Habyan, SVP of Marketing, +1-516-229-6615,
bhabyan@arbor.com, both of Arbor Realty Trust, Inc.; Investors, Stephanie
Carrington of The Ruth Group, +1-646-536-7017, scarrington@theruthgroup.com/
