abr-20240331
000125398612-312024Q1falseP12MP2M11.453.357.912.812.812.056.660.313.913.227.629.4.0605723http://fasb.org/us-gaap/2023#ValuationTechniqueDiscountedCashFlowMemberhttp://fasb.org/us-gaap/2023#MeasurementInputDiscountRateMember00012539862024-01-012024-03-310001253986us-gaap:CommonStockMember2024-01-012024-03-310001253986us-gaap:SeriesDPreferredStockMember2024-01-012024-03-310001253986us-gaap:SeriesEPreferredStockMember2024-01-012024-03-310001253986us-gaap:SeriesFPreferredStockMember2024-01-012024-03-3100012539862024-04-26xbrli:shares00012539862024-03-31iso4217:USD00012539862023-12-31iso4217:USDxbrli:shares0001253986abr:SpecialVotingPreferredStockMember2024-03-310001253986abr:SpecialVotingPreferredStockMember2023-12-310001253986abr:SeriesDCumulativeRedeemablePreferredStock6.375PercentMember2023-01-012023-12-31xbrli:pure0001253986abr:SeriesDCumulativeRedeemablePreferredStock6.375PercentMember2024-01-012024-03-310001253986abr:SeriesDCumulativeRedeemablePreferredStock6.375PercentMember2024-03-310001253986abr:SeriesDCumulativeRedeemablePreferredStock6.375PercentMember2023-12-310001253986abr:SeriesECumulativeRedeemablePreferredStock6.25PercentMember2023-01-012023-12-310001253986abr:SeriesECumulativeRedeemablePreferredStock6.25PercentMember2024-01-012024-03-310001253986abr:SeriesECumulativeRedeemablePreferredStock6.25PercentMember2023-12-310001253986abr:SeriesECumulativeRedeemablePreferredStock6.25PercentMember2024-03-310001253986abr:SeriesFCumulativeRedeemablePreferredStock6.25PercentMember2024-01-012024-03-310001253986abr:SeriesFCumulativeRedeemablePreferredStock6.25PercentMember2023-01-012023-12-310001253986abr:SeriesFCumulativeRedeemablePreferredStock6.25PercentMember2024-03-310001253986abr:SeriesFCumulativeRedeemablePreferredStock6.25PercentMember2023-12-310001253986us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-03-310001253986us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-3100012539862023-01-012023-03-310001253986us-gaap:PreferredStockMember2023-12-310001253986us-gaap:CommonStockMember2023-12-310001253986us-gaap:AdditionalPaidInCapitalMember2023-12-310001253986us-gaap:RetainedEarningsMember2023-12-310001253986us-gaap:ParentMember2023-12-310001253986us-gaap:NoncontrollingInterestMember2023-12-310001253986us-gaap:CommonStockMember2024-01-012024-03-310001253986us-gaap:AdditionalPaidInCapitalMember2024-01-012024-03-310001253986us-gaap:ParentMember2024-01-012024-03-310001253986us-gaap:RetainedEarningsMember2024-01-012024-03-310001253986us-gaap:NoncontrollingInterestMember2024-01-012024-03-310001253986us-gaap:PreferredStockMember2024-03-310001253986us-gaap:CommonStockMember2024-03-310001253986us-gaap:AdditionalPaidInCapitalMember2024-03-310001253986us-gaap:RetainedEarningsMember2024-03-310001253986us-gaap:ParentMember2024-03-310001253986us-gaap:NoncontrollingInterestMember2024-03-310001253986us-gaap:PreferredStockMember2022-12-310001253986us-gaap:CommonStockMember2022-12-310001253986us-gaap:AdditionalPaidInCapitalMember2022-12-310001253986us-gaap:RetainedEarningsMember2022-12-310001253986us-gaap:ParentMember2022-12-310001253986us-gaap:NoncontrollingInterestMember2022-12-3100012539862022-12-310001253986us-gaap:CommonStockMember2023-01-012023-03-310001253986us-gaap:AdditionalPaidInCapitalMember2023-01-012023-03-310001253986us-gaap:ParentMember2023-01-012023-03-310001253986us-gaap:RetainedEarningsMember2023-01-012023-03-310001253986us-gaap:NoncontrollingInterestMember2023-01-012023-03-310001253986us-gaap:PreferredStockMember2023-03-310001253986us-gaap:CommonStockMember2023-03-310001253986us-gaap:AdditionalPaidInCapitalMember2023-03-310001253986us-gaap:RetainedEarningsMember2023-03-310001253986us-gaap:ParentMember2023-03-310001253986us-gaap:NoncontrollingInterestMember2023-03-3100012539862023-03-31abr:segment0001253986us-gaap:BridgeLoanMember2024-03-310001253986us-gaap:BridgeLoanMember2024-01-012024-03-31abr:loan0001253986abr:MezzanineLoanMember2024-03-310001253986abr:MezzanineLoanMember2024-01-012024-03-310001253986abr:PreferredEquityInvestmentsInMortgageLoansMember2024-03-310001253986abr:PreferredEquityInvestmentsInMortgageLoansMember2024-01-012024-03-310001253986abr:SFRPermanentLoansMember2024-03-310001253986abr:SFRPermanentLoansMember2024-01-012024-03-310001253986us-gaap:BridgeLoanMember2023-12-310001253986us-gaap:BridgeLoanMember2023-01-012023-12-310001253986abr:MezzanineLoanMember2023-12-310001253986abr:MezzanineLoanMember2023-01-012023-12-310001253986abr:PreferredEquityInvestmentsInMortgageLoansMember2023-12-310001253986abr:PreferredEquityInvestmentsInMortgageLoansMember2023-01-012023-12-310001253986abr:SFRPermanentLoansMember2023-12-310001253986abr:SFRPermanentLoansMember2023-01-012023-12-3100012539862023-01-012023-12-310001253986us-gaap:CreditConcentrationRiskMember2023-12-310001253986srt:SingleFamilyMemberus-gaap:BridgeLoanMember2024-03-310001253986srt:SingleFamilyMemberus-gaap:BridgeLoanMember2023-12-310001253986srt:SingleFamilyMemberus-gaap:BridgeLoanMember2024-01-012024-03-310001253986srt:SingleFamilyMemberus-gaap:BridgeLoanMember2023-01-012023-12-310001253986srt:SingleFamilyMemberabr:SFRPermanentLoansMember2024-03-310001253986srt:SingleFamilyMemberabr:SFRPermanentLoansMember2023-12-310001253986us-gaap:AssetsTotalMemberus-gaap:CreditConcentrationRiskMember2024-01-012024-03-310001253986us-gaap:AssetsTotalMemberus-gaap:CreditConcentrationRiskMember2023-01-012023-12-31abr:borrower0001253986us-gaap:AssetsTotalMemberus-gaap:CreditConcentrationRiskMemberabr:FiveBorrowersMember2024-01-012024-03-310001253986us-gaap:AssetsTotalMemberus-gaap:CreditConcentrationRiskMemberabr:FiveBorrowersMember2023-01-012023-12-310001253986us-gaap:PassMemberus-gaap:CreditConcentrationRiskMembersrt:MultifamilyMember2024-03-310001253986us-gaap:CreditConcentrationRiskMembersrt:MultifamilyMemberabr:PassWatchMember2024-03-310001253986us-gaap:SpecialMentionMemberus-gaap:CreditConcentrationRiskMembersrt:MultifamilyMember2024-03-310001253986us-gaap:SubstandardMemberus-gaap:CreditConcentrationRiskMembersrt:MultifamilyMember2024-03-310001253986us-gaap:DoubtfulMemberus-gaap:CreditConcentrationRiskMembersrt:MultifamilyMember2024-03-310001253986srt:MultifamilyMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986us-gaap:PassMembersrt:SingleFamilyMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986srt:SingleFamilyMemberus-gaap:CreditConcentrationRiskMemberabr:PassWatchMember2024-03-310001253986us-gaap:SpecialMentionMembersrt:SingleFamilyMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986srt:SingleFamilyMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986us-gaap:LandAndLandImprovementsMemberus-gaap:CreditConcentrationRiskMemberabr:PassWatchMember2024-03-310001253986us-gaap:LandAndLandImprovementsMemberus-gaap:SubstandardMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986us-gaap:LandAndLandImprovementsMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986srt:OfficeBuildingMemberus-gaap:SpecialMentionMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986srt:OfficeBuildingMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986srt:RetailSiteMemberus-gaap:SubstandardMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986srt:RetailSiteMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986us-gaap:DoubtfulMemberus-gaap:CommercialRealEstateMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986us-gaap:CommercialRealEstateMemberus-gaap:CreditConcentrationRiskMember2024-03-310001253986us-gaap:CreditConcentrationRiskMember2024-03-310001253986us-gaap:PassMemberus-gaap:CreditConcentrationRiskMembersrt:MultifamilyMember2023-12-310001253986us-gaap:CreditConcentrationRiskMembersrt:MultifamilyMemberabr:PassWatchMember2023-12-310001253986us-gaap:SpecialMentionMemberus-gaap:CreditConcentrationRiskMembersrt:MultifamilyMember2023-12-310001253986us-gaap:SubstandardMemberus-gaap:CreditConcentrationRiskMembersrt:MultifamilyMember2023-12-310001253986us-gaap:DoubtfulMemberus-gaap:CreditConcentrationRiskMembersrt:MultifamilyMember2023-12-310001253986srt:MultifamilyMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986us-gaap:PassMembersrt:SingleFamilyMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986srt:SingleFamilyMemberus-gaap:CreditConcentrationRiskMemberabr:PassWatchMember2023-12-310001253986us-gaap:SpecialMentionMembersrt:SingleFamilyMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986srt:SingleFamilyMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986us-gaap:LandAndLandImprovementsMemberus-gaap:CreditConcentrationRiskMemberabr:PassWatchMember2023-12-310001253986us-gaap:LandAndLandImprovementsMemberus-gaap:SpecialMentionMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986us-gaap:LandAndLandImprovementsMemberus-gaap:SubstandardMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986us-gaap:LandAndLandImprovementsMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986srt:OfficeBuildingMemberus-gaap:SpecialMentionMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986srt:OfficeBuildingMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986srt:RetailSiteMemberus-gaap:SubstandardMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986srt:RetailSiteMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986us-gaap:DoubtfulMemberus-gaap:CommercialRealEstateMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986us-gaap:CommercialRealEstateMemberus-gaap:CreditConcentrationRiskMember2023-12-310001253986abr:LoansAndInvestmentsPortfolioMemberus-gaap:CreditConcentrationRiskMemberstpr:TX2024-01-012024-03-310001253986abr:LoansAndInvestmentsPortfolioMemberus-gaap:CreditConcentrationRiskMemberstpr:FL2024-01-012024-03-310001253986abr:LoansAndInvestmentsPortfolioMemberus-gaap:CreditConcentrationRiskMemberstpr:TX2023-01-012023-12-310001253986abr:LoansAndInvestmentsPortfolioMemberus-gaap:CreditConcentrationRiskMemberstpr:FL2023-01-012023-12-310001253986srt:MultifamilyMember2023-12-310001253986us-gaap:LandAndLandImprovementsMember2023-12-310001253986srt:RetailSiteMember2023-12-310001253986srt:SingleFamilyMember2023-12-310001253986us-gaap:CommercialRealEstateMember2023-12-310001253986srt:OfficeBuildingMember2023-12-310001253986srt:OtherPropertyMember2023-12-310001253986srt:MultifamilyMember2024-01-012024-03-310001253986us-gaap:LandAndLandImprovementsMember2024-01-012024-03-310001253986srt:RetailSiteMember2024-01-012024-03-310001253986srt:SingleFamilyMember2024-01-012024-03-310001253986us-gaap:CommercialRealEstateMember2024-01-012024-03-310001253986srt:OfficeBuildingMember2024-01-012024-03-310001253986srt:OtherPropertyMember2024-01-012024-03-310001253986srt:MultifamilyMember2024-03-310001253986us-gaap:LandAndLandImprovementsMember2024-03-310001253986srt:RetailSiteMember2024-03-310001253986srt:SingleFamilyMember2024-03-310001253986us-gaap:CommercialRealEstateMember2024-03-310001253986srt:OfficeBuildingMember2024-03-310001253986srt:OtherPropertyMember2024-03-310001253986srt:MultifamilyMember2022-12-310001253986us-gaap:LandAndLandImprovementsMember2022-12-310001253986srt:RetailSiteMember2022-12-310001253986srt:SingleFamilyMember2022-12-310001253986us-gaap:CommercialRealEstateMember2022-12-310001253986srt:OfficeBuildingMember2022-12-310001253986srt:OtherPropertyMember2022-12-310001253986srt:MultifamilyMember2023-01-012023-03-310001253986us-gaap:LandAndLandImprovementsMember2023-01-012023-03-310001253986srt:RetailSiteMember2023-01-012023-03-310001253986srt:SingleFamilyMember2023-01-012023-03-310001253986us-gaap:CommercialRealEstateMember2023-01-012023-03-310001253986srt:OfficeBuildingMember2023-01-012023-03-310001253986srt:OtherPropertyMember2023-01-012023-03-310001253986srt:MultifamilyMember2023-03-310001253986us-gaap:LandAndLandImprovementsMember2023-03-310001253986srt:RetailSiteMember2023-03-310001253986srt:SingleFamilyMember2023-03-310001253986us-gaap:CommercialRealEstateMember2023-03-310001253986srt:OfficeBuildingMember2023-03-310001253986srt:OtherPropertyMember2023-03-310001253986srt:MultifamilyMember2023-01-012023-12-310001253986us-gaap:LandAndLandImprovementsMember2023-01-012023-12-310001253986srt:RetailSiteMember2023-01-012023-12-310001253986us-gaap:CommercialRealEstateMember2023-01-012023-12-310001253986us-gaap:NonperformingFinancingReceivableMember2024-01-012024-03-310001253986us-gaap:NonperformingFinancingReceivableMember2024-03-310001253986us-gaap:NonperformingFinancingReceivableMember2023-01-012023-12-310001253986us-gaap:NonperformingFinancingReceivableMember2023-12-310001253986us-gaap:NonperformingFinancingReceivableMembersrt:MultifamilyMember2024-01-012024-03-310001253986abr:FinancingReceivable6190DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMembersrt:MultifamilyMember2024-03-310001253986us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMembersrt:MultifamilyMember2024-03-310001253986us-gaap:NonperformingFinancingReceivableMembersrt:MultifamilyMember2023-01-012023-12-310001253986abr:FinancingReceivable6190DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMembersrt:MultifamilyMember2023-12-310001253986us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMembersrt:MultifamilyMember2023-12-310001253986us-gaap:CommercialRealEstateMemberus-gaap:NonperformingFinancingReceivableMember2024-01-012024-03-310001253986abr:FinancingReceivable6190DaysPastDueMemberus-gaap:CommercialRealEstateMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310001253986us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstateMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310001253986us-gaap:CommercialRealEstateMemberus-gaap:NonperformingFinancingReceivableMember2023-01-012023-12-310001253986abr:FinancingReceivable6190DaysPastDueMemberus-gaap:CommercialRealEstateMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310001253986us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialRealEstateMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310001253986srt:RetailSiteMemberus-gaap:NonperformingFinancingReceivableMember2024-01-012024-03-310001253986abr:FinancingReceivable6190DaysPastDueMembersrt:RetailSiteMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310001253986us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembersrt:RetailSiteMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310001253986srt:RetailSiteMemberus-gaap:NonperformingFinancingReceivableMember2023-01-012023-12-310001253986abr:FinancingReceivable6190DaysPastDueMembersrt:RetailSiteMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310001253986us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMembersrt:RetailSiteMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310001253986abr:FinancingReceivable6190DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310001253986us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2024-03-310001253986abr:FinancingReceivable6190DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310001253986us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:NonperformingFinancingReceivableMember2023-12-310001253986us-gaap:BridgeLoanMemberabr:FinancialAssetLessThan60DaysPastDueMembersrt:MultifamilyMember2024-03-310001253986us-gaap:BridgeLoanMemberabr:FinancialAssetLessThan60DaysPastDueMembersrt:MultifamilyMember2023-12-310001253986abr:FinancialAssetGreaterThan60DaysPastDueMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2024-03-310001253986us-gaap:BridgeLoanMembersrt:MultifamilyMember2024-03-310001253986us-gaap:BridgeLoanMemberabr:FinancialAssetLessThan60DaysPastDueMembersrt:MultifamilyMember2024-01-012024-03-310001253986abr:SixLoansCollateralizedByLandDevelopmentProjectMember2024-03-310001253986abr:FiveLoansCollateralizedByLandDevelopmentProjectMember2024-03-310001253986abr:FiveLoansCollateralizedByLandDevelopmentProjectMember2024-01-012024-03-310001253986abr:LoansCollateralizedByLandDevelopmentProjectMember2024-03-310001253986abr:LoansCollateralizedByLandDevelopmentProjectMember2023-12-310001253986abr:TemporaryInterestRateReliefTwentyThreeLoansMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2024-01-012024-03-310001253986abr:SecuredOvernightFinancingRateSOFRMembersrt:MinimumMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2024-01-012024-03-310001253986abr:SecuredOvernightFinancingRateSOFRMembersrt:MaximumMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2024-01-012024-03-310001253986us-gaap:BridgeLoanMembersrt:MultifamilyMember2024-01-012024-03-310001253986abr:TemporaryInterestRateReliefMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2024-03-310001253986abr:TemporaryInterestRateReliefAndExtendedMaturityMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2024-01-012024-03-310001253986srt:MinimumMemberabr:TemporaryInterestRateReliefAndExtendedMaturityMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986srt:MaximumMemberabr:TemporaryInterestRateReliefAndExtendedMaturityMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986abr:LoanModificationExtendedMaturityMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2024-01-012024-03-310001253986abr:LoanModificationExtendedMaturityMembersrt:MinimumMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986srt:MaximumMemberabr:LoanModificationExtendedMaturityMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986abr:RateOfInterestAndExtendedMaturityMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986abr:SecuredOvernightFinancingRateSOFRMemberabr:RateOfInterestAndExtendedMaturityMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986abr:InterestDeferralExtendedMaturityAndInterestForgivenessMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986abr:SecuredOvernightFinancingRateSOFRMemberabr:InterestDeferralExtendedMaturityAndInterestForgivenessMembersrt:MinimumMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986abr:SecuredOvernightFinancingRateSOFRMembersrt:MaximumMemberabr:InterestDeferralExtendedMaturityAndInterestForgivenessMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986abr:InterestDeferralExtendedMaturityAndInterestForgivenessMembersrt:MinimumMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986srt:MaximumMemberabr:InterestDeferralExtendedMaturityAndInterestForgivenessMemberus-gaap:BridgeLoanMembersrt:MultifamilyMember2023-10-012023-12-310001253986srt:OfficeBuildingMember2023-10-012023-12-310001253986us-gaap:BridgeLoanMember2023-06-300001253986us-gaap:BridgeLoanMember2023-04-012023-06-300001253986us-gaap:BridgeLoanMember2023-09-012023-09-3000012539862023-04-012023-04-300001253986us-gaap:BridgeLoanMember2023-04-012023-04-300001253986us-gaap:UsGovernmentSponsoredEnterpriseInsuredLoansMember2024-01-012024-03-310001253986abr:PrivateLabelMember2024-01-012024-03-310001253986abr:FederalNationalMortgageAssociationLoansMember2024-03-310001253986abr:FederalNationalMortgageAssociationLoansMember2023-12-310001253986abr:FederalHomeLoanMortgageCorporationLoansMember2024-03-310001253986abr:FederalHomeLoanMortgageCorporationLoansMember2023-12-310001253986abr:PrivateLabelMember2024-03-310001253986abr:PrivateLabelMember2023-12-310001253986abr:SFRFixedRateMember2024-03-310001253986abr:SFRFixedRateMember2023-12-310001253986abr:FederalHousingAdministrationLoansMember2024-03-310001253986abr:FederalHousingAdministrationLoansMember2023-12-310001253986abr:PrivateLabelMember2022-01-012022-12-310001253986abr:PrivateLabelMember2022-12-310001253986abr:PrivateLabelMember2023-01-012023-03-310001253986us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001253986us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-03-310001253986srt:MinimumMemberus-gaap:ServicingContractsMember2024-01-012024-03-310001253986srt:MaximumMemberus-gaap:ServicingContractsMember2024-01-012024-03-310001253986srt:WeightedAverageMemberus-gaap:ServicingContractsMember2024-01-012024-03-310001253986srt:WeightedAverageMemberus-gaap:ServicingContractsMember2024-03-310001253986srt:WeightedAverageMemberus-gaap:ServicingContractsMember2023-12-310001253986abr:ServicingContractsOriginatedMember2023-12-310001253986abr:ServicingContractsAcquiredMember2023-12-310001253986us-gaap:ServicingContractsMember2023-12-310001253986abr:ServicingContractsOriginatedMember2024-01-012024-03-310001253986us-gaap:ServicingContractsMember2024-01-012024-03-310001253986abr:ServicingContractsAcquiredMember2024-01-012024-03-310001253986abr:ServicingContractsOriginatedMember2024-03-310001253986abr:ServicingContractsAcquiredMember2024-03-310001253986us-gaap:ServicingContractsMember2024-03-310001253986abr:ServicingContractsOriginatedMember2022-12-310001253986abr:ServicingContractsAcquiredMember2022-12-310001253986us-gaap:ServicingContractsMember2022-12-310001253986abr:ServicingContractsOriginatedMember2023-01-012023-03-310001253986us-gaap:ServicingContractsMember2023-01-012023-03-310001253986abr:ServicingContractsAcquiredMember2023-01-012023-03-310001253986abr:ServicingContractsOriginatedMember2023-03-310001253986abr:ServicingContractsAcquiredMember2023-03-310001253986us-gaap:ServicingContractsMember2023-03-310001253986us-gaap:ServicingContractsMemberabr:FederalNationalMortgageAssociationLoansMember2024-03-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberabr:FederalNationalMortgageAssociationLoansMember2024-01-012024-03-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:NY2024-01-012024-03-310001253986abr:FederalHomeLoanMortgageCorporationLoansMemberus-gaap:ServicingContractsMember2024-03-310001253986us-gaap:RevenueRightsGrantedMemberabr:FederalHomeLoanMortgageCorporationLoansMemberus-gaap:ServicingContractsMember2024-01-012024-03-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:TX2024-01-012024-03-310001253986abr:PrivateLabelMemberus-gaap:ServicingContractsMember2024-03-310001253986us-gaap:RevenueRightsGrantedMemberabr:PrivateLabelMemberus-gaap:ServicingContractsMember2024-01-012024-03-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:NC2024-01-012024-03-310001253986abr:FederalHousingAdministrationLoansMemberus-gaap:ServicingContractsMember2024-03-310001253986abr:FederalHousingAdministrationLoansMemberus-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMember2024-01-012024-03-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:CA2024-01-012024-03-310001253986abr:BridgeMemberus-gaap:ServicingContractsMember2024-03-310001253986abr:BridgeMemberus-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMember2024-01-012024-03-310001253986stpr:GAus-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMember2024-01-012024-03-310001253986us-gaap:ServicingContractsMemberabr:SingleFamilyResidentialMember2024-03-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberabr:SingleFamilyResidentialMember2024-01-012024-03-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:FL2024-01-012024-03-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMember2024-01-012024-03-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:NJ2024-01-012024-03-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:IL2024-01-012024-03-310001253986us-gaap:RevenueRightsGrantedMemberabr:OtherStatesMemberus-gaap:ServicingContractsMember2024-01-012024-03-310001253986us-gaap:ServicingContractsMemberabr:FederalNationalMortgageAssociationLoansMember2023-12-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberabr:FederalNationalMortgageAssociationLoansMember2023-01-012023-12-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:TX2023-01-012023-12-310001253986abr:FederalHomeLoanMortgageCorporationLoansMemberus-gaap:ServicingContractsMember2023-12-310001253986us-gaap:RevenueRightsGrantedMemberabr:FederalHomeLoanMortgageCorporationLoansMemberus-gaap:ServicingContractsMember2023-01-012023-12-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:NY2023-01-012023-12-310001253986abr:PrivateLabelMemberus-gaap:ServicingContractsMember2023-12-310001253986us-gaap:RevenueRightsGrantedMemberabr:PrivateLabelMemberus-gaap:ServicingContractsMember2023-01-012023-12-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:CA2023-01-012023-12-310001253986abr:FederalHousingAdministrationLoansMemberus-gaap:ServicingContractsMember2023-12-310001253986abr:FederalHousingAdministrationLoansMemberus-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMember2023-01-012023-12-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:NC2023-01-012023-12-310001253986abr:BridgeMemberus-gaap:ServicingContractsMember2023-12-310001253986abr:BridgeMemberus-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMember2023-01-012023-12-310001253986stpr:GAus-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMember2023-01-012023-12-310001253986us-gaap:ServicingContractsMemberabr:SingleFamilyResidentialMember2023-12-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberabr:SingleFamilyResidentialMember2023-01-012023-12-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:FL2023-01-012023-12-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMember2023-01-012023-12-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:NJ2023-01-012023-12-310001253986us-gaap:RevenueRightsGrantedMemberus-gaap:ServicingContractsMemberstpr:IL2023-01-012023-12-310001253986us-gaap:RevenueRightsGrantedMemberabr:OtherStatesMemberus-gaap:ServicingContractsMember2023-01-012023-12-31abr:state0001253986us-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986us-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2023-01-012023-12-310001253986us-gaap:RevenueRightsGrantedMember2024-03-310001253986us-gaap:RevenueRightsGrantedMember2023-12-310001253986abr:AgencyPrivateLabelCertificatesMember2024-03-310001253986abr:AgencyPrivateLabelCertificatesMembersrt:MinimumMember2024-01-012024-03-310001253986srt:MaximumMemberabr:AgencyPrivateLabelCertificatesMember2024-01-012024-03-310001253986abr:AgencyPrivateLabelCertificatesMember2024-01-012024-03-310001253986abr:AgencyPrivateLabelCertificatesMember2023-01-012023-12-310001253986abr:SevenBPieceBondsMember2024-01-012024-03-31abr:bond0001253986abr:SevenBPieceBondsMember2024-03-310001253986abr:AgencyBPieceBondsMember2024-03-310001253986abr:AgencyBPieceBondsMember2023-12-310001253986abr:BPieceBondsMember2024-03-310001253986abr:AgencyPrivateLabelCertificatesMember2023-12-310001253986abr:BPieceBondsMember2023-12-310001253986abr:BPieceBondsMember2024-01-012024-03-310001253986abr:ArborResidentialInvestorLLLCMember2024-03-310001253986abr:ArborResidentialInvestorLLLCMember2023-12-310001253986abr:AWCRealEstateOpportunityPartnersMember2024-03-310001253986abr:AWCRealEstateOpportunityPartnersMember2023-12-310001253986abr:FifthWallVenturesIiiMember2024-03-310001253986abr:FifthWallVenturesIiiMember2023-12-310001253986abr:AmacHoldingsIiiLlcMember2024-03-310001253986abr:AmacHoldingsIiiLlcMember2023-12-310001253986abr:ARSRDPREFMember2024-03-310001253986abr:ARSRDPREFMember2023-12-310001253986abr:LightstoneValuePlusREITLPMember2024-03-310001253986abr:LightstoneValuePlusREITLPMember2023-12-310001253986abr:TheParkAtViaTerrossaMember2024-03-310001253986abr:TheParkAtViaTerrossaMember2023-12-310001253986abr:DocsumoPte.LtdMember2024-03-310001253986abr:DocsumoPte.LtdMember2023-12-310001253986abr:JTPrimeMember2024-03-310001253986abr:JTPrimeMember2023-12-310001253986abr:WestShoreCafeMember2024-03-310001253986abr:WestShoreCafeMember2023-12-310001253986abr:LexfordPortfolioMember2024-03-310001253986abr:LexfordPortfolioMember2023-12-310001253986abr:EastRiverMember2024-03-310001253986abr:EastRiverMember2023-12-310001253986abr:ArborResidentialInvestorLLLCMember2024-01-012024-03-310001253986abr:ArborResidentialInvestorLLLCMember2023-01-012023-03-310001253986abr:ArborResidentialInvestorLLLCMember2023-01-012023-12-310001253986abr:AWCRealEstateOpportunityPartnersMemberabr:OtherRelatedPartyTransactionsMember2024-01-012024-03-310001253986abr:FifthWallVenturesIiiMember2024-01-012024-03-310001253986abr:FifthWallVenturesIiiMember2023-01-012023-03-310001253986abr:AmacHoldingsIiiLlcMember2024-01-012024-03-310001253986abr:AmacHoldingsIiiLlcMember2023-01-012023-03-310001253986abr:OtherRelatedPartyTransactionsMemberabr:TheParkAtViaTerrossaMember2024-01-012024-03-310001253986abr:LexfordPortfolioMember2023-01-012023-03-310001253986abr:EquityParticipationInterestMember2023-01-012023-03-310001253986abr:JointRepurchaseFacility1.9BillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:JointRepurchaseFacility1.9BillionMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:JointRepurchaseFacility1.00BillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:JointRepurchaseFacility1.00BillionMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:RepurchaseFacility1BillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:RepurchaseFacility1BillionMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:WarehouseRepurchaseFacility499MillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:WarehouseRepurchaseFacility499MillionMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:RepurchaseFacility350MillionMember2024-03-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:RepurchaseFacility350MillionMember2023-12-310001253986abr:CreditFacility250MillionMaturity2027Memberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:CreditFacility250MillionMaturity2027Memberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:RepurchaseFacility250MillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:RepurchaseFacility250MillionMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:CreditFacility250MillionMember2024-03-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:CreditFacility250MillionMember2023-12-310001253986abr:WarehouseRepurchaseFacility200MillionWithExtendedMaturityOfOctober2024Memberabr:StructuredTransactionBusinessSegmentMember2024-01-310001253986abr:WarehouseRepurchaseFacility200MillionWithExtendedMaturityOfOctober2024Memberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:WarehouseRepurchaseFacility200MillionWithExtendedMaturityOfOctober2024Memberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:A200MillionRepurchaseFacility1Member2024-03-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:A200MillionRepurchaseFacility1Member2023-12-310001253986abr:A200MillionRepurchaseFacilityMemberabr:StructuredTransactionBusinessSegmentMember2024-01-310001253986abr:A200MillionRepurchaseFacilityMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:A200MillionRepurchaseFacilityMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:RepurchaseFacility225MillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:RepurchaseFacility225MillionMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:LoanSpecificCreditFacilities126MillionMemberabr:StructuredTransactionBusinessSegmentMember2024-02-290001253986abr:LoanSpecificCreditFacilities126MillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:LoanSpecificCreditFacilities126MillionMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:CreditFacility50MillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:CreditFacility50MillionMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:CreditFacility40MillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:CreditFacility40MillionMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:WorkingCapitalFacility35MillionMember2024-03-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:WorkingCapitalFacility35MillionMember2023-12-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:WarehouseRepurchaseFacilityMember2024-03-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:WarehouseRepurchaseFacilityMember2023-12-310001253986abr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:AsapAgreement750MillionMemberabr:AgencyBusinessSegmentMember2024-03-310001253986abr:AsapAgreement750MillionMemberabr:AgencyBusinessSegmentMember2023-12-310001253986abr:WarehouseRepurchaseFacility500MillionMemberabr:AgencyBusinessSegmentMember2024-03-310001253986abr:WarehouseRepurchaseFacility500MillionMemberabr:AgencyBusinessSegmentMember2023-12-310001253986abr:CreditFacility200millionMemberabr:AgencyBusinessSegmentMember2024-03-310001253986abr:CreditFacility200millionMemberabr:AgencyBusinessSegmentMember2023-12-310001253986abr:JointRepurchaseFacility100MillionMemberabr:AgencyBusinessSegmentMember2024-03-310001253986abr:JointRepurchaseFacility100MillionMemberabr:AgencyBusinessSegmentMember2023-12-310001253986abr:CreditFacility100MillionMemberabr:AgencyBusinessSegmentMember2024-03-310001253986abr:CreditFacility100MillionMemberabr:AgencyBusinessSegmentMember2023-12-310001253986abr:CreditFacility50MillionMemberabr:AgencyBusinessSegmentMember2024-03-310001253986abr:CreditFacility50MillionMemberabr:AgencyBusinessSegmentMember2023-12-310001253986abr:SingleFamilyRentalPropertiesRepurchaseFacility1.0MillionMemberabr:AgencyBusinessSegmentMember2024-03-310001253986abr:SingleFamilyRentalPropertiesRepurchaseFacility1.0MillionMemberabr:AgencyBusinessSegmentMember2023-12-310001253986abr:AgencyBusinessSegmentMember2024-03-310001253986abr:AgencyBusinessSegmentMember2023-12-310001253986abr:StructuredAndAgencyBusinessMemberabr:A3BillionJointRepurchaseFacilityMember2024-02-290001253986abr:StructuredAndAgencyBusinessMemberabr:A2BillionJointRepurchaseFacilityMember2024-03-310001253986abr:BPieceBondsMemberabr:StructuredTransactionBusinessSegmentMember2023-01-012023-12-310001253986abr:WarehouseRepurchaseFacility500MillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberabr:RepurchaseFacility1BillionMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:WarehouseRepurchaseFacility450MillionWithExtendedMaturityOfMarch2026Member2024-03-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:RepurchaseFacility350MillionMember2024-03-012024-03-31abr:extension0001253986abr:CreditFacility250MillionMaturity2027Memberabr:StructuredTransactionBusinessSegmentMember2024-03-012024-03-310001253986abr:CreditFacility225millionMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:CreditFacility25MillionOneMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986abr:StructuredTransactionBusinessSegmentMemberabr:CreditFacility150MillionMember2024-01-310001253986us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberabr:StructuredTransactionBusinessSegmentMemberabr:CreditFacility150MillionMember2024-01-012024-01-310001253986srt:MinimumMemberabr:StructuredTransactionBusinessSegmentMember2024-01-012024-01-310001253986abr:CollateralizedLoanObligationsNineteenMember2024-03-310001253986abr:CollateralizedLoanObligationsEighteenMember2024-03-310001253986abr:CollateralizedLoanObligationsSeventeenMember2024-03-310001253986abr:CollateralizedLoanObligationsSixteenMember2024-03-310001253986abr:CollateralizedLoanObligationsFifteenMember2024-03-310001253986abr:CollateralizedLoanObligationsFourteenMember2024-03-310001253986us-gaap:CollateralizedLoanObligationsMember2024-03-310001253986abr:QSeriesSecuritizationMember2024-03-310001253986abr:CollateralSecuritizeDebtMember2024-03-310001253986abr:CollateralizedLoanObligationsNineteenMember2023-12-310001253986abr:CollateralizedLoanObligationsEighteenMember2023-12-310001253986abr:CollateralizedLoanObligationsSeventeenMember2023-12-310001253986abr:CollateralizedLoanObligationsSixteenMember2023-12-310001253986abr:CollateralizedLoanObligationsFifteenMember2023-12-310001253986abr:CollateralizedLoanObligationsFourteenMember2023-12-310001253986us-gaap:CollateralizedLoanObligationsMember2023-12-310001253986abr:QSeriesSecuritizationMember2023-12-310001253986abr:CollateralSecuritizeDebtMember2023-12-310001253986us-gaap:CollateralizedLoanObligationsMember2024-01-012024-03-310001253986us-gaap:CollateralizedLoanObligationsMember2023-01-012023-12-310001253986abr:CollateralizedLoanObligationsFourteenMember2024-01-012024-03-310001253986abr:CollateralizedLoanObligationsFifteenMember2024-01-012024-03-310001253986abr:QSeriesSecuritizationMember2024-01-012024-03-310001253986abr:SeniorUnsecuredNotesOne7.75Member2024-03-310001253986abr:SeniorUnsecuredNotesOne7.75Member2023-12-310001253986abr:SeniorUnsecuredNotesOne8.50Member2024-03-310001253986abr:SeniorUnsecuredNotesOne8.50Member2023-12-310001253986abr:SeniorUnsecuredNotesOne5.00Member2024-03-310001253986abr:SeniorUnsecuredNotesOne5.00Member2023-12-310001253986abr:SeniorUnsecuredNotes4.50Member2024-03-310001253986abr:SeniorUnsecuredNotes4.50Member2023-12-310001253986abr:SeniorUnsecuredNotes5.00Member2024-03-310001253986abr:SeniorUnsecuredNotes5.00Member2023-12-310001253986abr:SeniorUnsecuredNotes4.50PercentMember2024-03-310001253986abr:SeniorUnsecuredNotes4.50PercentMember2023-12-310001253986abr:SeniorUnsecuredNotes4.75PercentMember2024-03-310001253986abr:SeniorUnsecuredNotes4.75PercentMember2023-12-310001253986abr:SeniorUnsecuredNotes5.75PercentMember2024-03-310001253986abr:SeniorUnsecuredNotes5.75PercentMember2023-12-310001253986us-gaap:SeniorNotesMember2024-03-310001253986us-gaap:SeniorNotesMember2023-12-310001253986abr:A750ConvertibleNotesMember2024-03-310001253986us-gaap:ConvertibleDebtMember2024-01-012024-03-310001253986us-gaap:ConvertibleDebtMember2024-03-310001253986us-gaap:ConvertibleDebtMember2023-12-310001253986us-gaap:ConvertibleDebtMember2023-01-012023-03-310001253986abr:ConvertibleSeniorUnsecuredNotes7.50Member2024-03-310001253986us-gaap:JuniorSubordinatedDebtMember2024-03-310001253986us-gaap:JuniorSubordinatedDebtMember2023-12-310001253986us-gaap:JuniorSubordinatedDebtMember2024-01-012024-03-310001253986us-gaap:JuniorSubordinatedDebtMember2023-01-012023-12-310001253986abr:CollateralizedLoanObligationsSixteenMember2024-01-012024-03-310001253986abr:CollateralizedLoanObligationsSeventeenMember2024-01-012024-03-310001253986abr:CollateralizedLoanObligationsEighteenMember2024-01-012024-03-310001253986abr:CollateralizedLoanObligationsNineteenMember2024-01-012024-03-310001253986srt:ScenarioForecastMemberabr:CollateralizedLoanObligationsFourteenMember2024-04-012024-04-300001253986srt:ScenarioForecastMemberabr:CollateralizedLoanObligationsFifteenMember2024-04-012024-04-300001253986srt:ScenarioForecastMemberabr:CollateralizedLoanObligationsSixteenMember2024-04-012024-04-300001253986srt:ScenarioForecastMemberabr:CollateralizedLoanObligationsSeventeenMember2024-04-012024-04-300001253986srt:ScenarioForecastMemberabr:CollateralizedLoanObligationsEighteenMember2024-04-012024-04-300001253986srt:ScenarioForecastMemberabr:CollateralizedLoanObligationsNineteenMember2024-04-012024-04-300001253986abr:CollateralizedLoanObligationsFourteenMember2024-01-012024-01-310001253986abr:CollateralizedLoanObligationsFifteenMember2024-01-012024-01-310001253986abr:CollateralizedLoanObligationsSixteenMember2024-01-012024-01-310001253986abr:CollateralizedLoanObligationsSeventeenMember2024-01-012024-01-310001253986abr:CollateralizedLoanObligationsEighteenMember2024-01-012024-01-310001253986abr:CollateralizedLoanObligationsNineteenMember2024-01-012024-01-310001253986abr:CollateralizedLoanObligationsFourteenMember2023-10-012023-10-310001253986abr:CollateralizedLoanObligationsFifteenMember2023-10-012023-10-310001253986abr:CollateralizedLoanObligationsSixteenMember2023-10-012023-10-310001253986abr:CollateralizedLoanObligationsSeventeenMember2023-10-012023-10-310001253986abr:CollateralizedLoanObligationsEighteenMember2023-10-012023-10-310001253986abr:CollateralizedLoanObligationsNineteenMember2023-10-012023-10-310001253986abr:CollateralizedLoanObligationsFourteenMember2023-07-012023-07-010001253986abr:CollateralizedLoanObligationsFifteenMember2023-07-012023-07-010001253986abr:CollateralizedLoanObligationsSixteenMember2023-07-012023-07-010001253986abr:CollateralizedLoanObligationsSeventeenMember2023-07-012023-07-010001253986abr:CollateralizedLoanObligationsEighteenMember2023-07-012023-07-010001253986abr:CollateralizedLoanObligationsNineteenMember2023-07-012023-07-010001253986abr:CollateralizedLoanObligationsFourteenMember2023-04-012023-04-300001253986abr:CollateralizedLoanObligationsFifteenMember2023-04-012023-04-300001253986abr:CollateralizedLoanObligationsSixteenMember2023-04-012023-04-300001253986abr:CollateralizedLoanObligationsSeventeenMember2023-04-012023-04-300001253986abr:CollateralizedLoanObligationsEighteenMember2023-04-012023-04-300001253986abr:CollateralizedLoanObligationsNineteenMember2023-04-012023-04-300001253986abr:ConvertibleSeniorUnsecuredNotes7.50Member2024-03-312024-03-310001253986us-gaap:PerformanceGuaranteeMember2023-12-310001253986us-gaap:PerformanceGuaranteeMember2022-12-310001253986us-gaap:PerformanceGuaranteeMember2024-01-012024-03-310001253986us-gaap:PerformanceGuaranteeMember2023-01-012023-03-310001253986us-gaap:PerformanceGuaranteeMember2024-03-310001253986us-gaap:PerformanceGuaranteeMember2023-03-310001253986abr:TreasuryFuturesMember2024-01-012024-03-310001253986abr:TreasuryFuturesMembersrt:MinimumMember2024-01-012024-03-310001253986abr:TreasuryFuturesMembersrt:MaximumMember2024-01-012024-03-310001253986us-gaap:CreditDefaultSwapMember2024-01-012024-03-310001253986abr:TreasuryFuturesMember2024-03-310001253986abr:TreasuryFuturesMember2023-12-310001253986abr:TreasuryFuturesMember2023-01-012023-12-310001253986abr:TreasuryFuturesMemberus-gaap:OtherIncomeMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986abr:TreasuryFuturesMemberus-gaap:OtherIncomeMemberabr:AgencyBusinessSegmentMember2023-01-012023-03-310001253986us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberabr:AgencyBusinessSegmentMember2024-03-31abr:count0001253986us-gaap:NondesignatedMemberabr:AgencyBusinessSegmentMemberabr:ForwardSaleCommitmentsMember2024-03-310001253986abr:TreasuryFuturesMemberus-gaap:NondesignatedMemberabr:AgencyBusinessSegmentMember2024-03-310001253986us-gaap:NondesignatedMemberabr:AgencyBusinessSegmentMember2024-03-310001253986us-gaap:InterestRateLockCommitmentsMemberus-gaap:NondesignatedMemberabr:AgencyBusinessSegmentMember2023-12-310001253986us-gaap:NondesignatedMemberabr:AgencyBusinessSegmentMemberabr:ForwardSaleCommitmentsMember2023-12-310001253986abr:TreasuryFuturesMemberus-gaap:NondesignatedMemberabr:AgencyBusinessSegmentMember2023-12-310001253986us-gaap:NondesignatedMemberabr:AgencyBusinessSegmentMember2023-12-310001253986us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310001253986us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-03-310001253986us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001253986us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001253986us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember2024-03-310001253986us-gaap:AssetBackedSecuritiesSecuritizedLoansAndReceivablesMember2023-12-310001253986srt:MinimumMember2024-01-012024-03-310001253986srt:MaximumMember2024-01-012024-03-310001253986us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001253986us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001253986us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2024-03-310001253986us-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2024-03-310001253986us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2024-03-310001253986us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2024-03-310001253986us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310001253986us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel1Member2024-03-310001253986us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2024-03-310001253986us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsNonrecurringMember2024-03-310001253986us-gaap:FairValueInputsLevel3Membersrt:MultifamilyMember2024-03-310001253986us-gaap:FairValueInputsLevel3Membersrt:MultifamilyMemberus-gaap:MeasurementInputCapRateMember2024-03-310001253986us-gaap:FairValueInputsLevel3Membersrt:MinimumMembersrt:MultifamilyMemberus-gaap:MeasurementInputCapRateMember2024-03-310001253986us-gaap:FairValueInputsLevel3Membersrt:MaximumMembersrt:MultifamilyMemberus-gaap:MeasurementInputCapRateMember2024-03-310001253986us-gaap:FairValueInputsLevel3Memberus-gaap:LandAndLandImprovementsMember2024-03-310001253986us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberus-gaap:LandAndLandImprovementsMember2024-03-310001253986us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputRevenueMultipleMemberus-gaap:LandAndLandImprovementsMember2024-03-310001253986us-gaap:FairValueInputsLevel3Membersrt:RetailSiteMember2024-03-310001253986us-gaap:FairValueInputsLevel3Membersrt:RetailSiteMemberus-gaap:MeasurementInputAppraisedValueMember2024-03-310001253986us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMember2024-03-310001253986us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateLockCommitmentsMemberus-gaap:MeasurementInputDiscountRateMember2024-03-310001253986us-gaap:InterestRateLockCommitmentsMember2024-03-310001253986us-gaap:InterestRateLockCommitmentsMember2024-01-012024-03-310001253986abr:ForwardSaleCommitmentsMember2024-03-310001253986abr:ForwardSaleCommitmentsMember2024-01-012024-03-310001253986abr:ServicingContractsHeldForSaleMember2024-03-310001253986abr:ServicingContractsHeldForSaleMember2024-01-012024-03-310001253986us-gaap:FairValueInputsLevel1Member2024-03-310001253986us-gaap:FairValueInputsLevel2Member2024-03-310001253986us-gaap:FairValueInputsLevel3Member2024-03-310001253986us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2024-03-310001253986us-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2024-01-012024-03-310001253986us-gaap:ForwardContractsMember2024-01-012024-03-310001253986abr:ConsolidatedClosAndDebtFundMember2024-03-310001253986abr:ConsolidatedClosAndDebtFundMember2023-12-310001253986us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2024-01-012024-03-31abr:entity0001253986us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:DebtSecuritiesMember2024-03-310001253986abr:AgencyPrivateLabelCertificatesMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2024-03-310001253986us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:EquitySecuritiesMember2024-03-310001253986us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberabr:BPieceBondsMember2024-03-310001253986us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:InterestOnlyStripMember2024-03-310001253986us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2024-03-310001253986abr:ShareRepurchaseProgramMember2023-12-310001253986abr:ShareRepurchaseProgramMember2024-03-310001253986us-gaap:SubsequentEventMember2024-04-012024-04-300001253986abr:SpecialVotingPreferredStockMembersrt:PartnershipInterestMember2024-01-012024-03-310001253986abr:SpecialVotingPreferredStockMembersrt:PartnershipInterestMember2024-03-31abr:Vote0001253986srt:PartnershipInterestMember2024-01-012024-03-310001253986us-gaap:CommonStockMember2024-02-142024-02-140001253986abr:SeriesDCumulativeRedeemablePreferredStock6.375SeriesDPreferredStockMemberus-gaap:PreferredStockMember2024-03-292024-03-290001253986abr:SeriesECumulativeRedeemablePreferredStock6.25PercentMemberus-gaap:PreferredStockMember2024-03-292024-03-290001253986abr:SeriesFCumulativeRedeemablePreferredStock6.25PercentMemberus-gaap:PreferredStockMember2024-03-292024-03-290001253986us-gaap:SubsequentEventMember2024-05-012024-05-010001253986us-gaap:ShareBasedPaymentArrangementEmployeeMemberus-gaap:RestrictedStockMemberabr:AmendedOmnibusStockIncentivePlan2020Member2024-01-012024-03-310001253986abr:VestedOnGrantDateMemberus-gaap:ShareBasedPaymentArrangementEmployeeMemberus-gaap:RestrictedStockMemberabr:AmendedOmnibusStockIncentivePlan2020Member2024-01-012024-03-310001253986abr:VestingPeriodOneMemberus-gaap:ShareBasedPaymentArrangementEmployeeMemberus-gaap:RestrictedStockMemberabr:AmendedOmnibusStockIncentivePlan2020Member2024-01-012024-03-310001253986us-gaap:ShareBasedPaymentArrangementEmployeeMemberus-gaap:RestrictedStockMemberabr:VestingPeriodTwoMemberabr:AmendedOmnibusStockIncentivePlan2020Member2024-01-012024-03-310001253986srt:ChiefExecutiveOfficerMemberus-gaap:RestrictedStockMemberabr:AmendedOmnibusStockIncentivePlan2020Member2024-01-012024-03-310001253986srt:DirectorMemberus-gaap:RestrictedStockUnitsRSUMemberabr:AmendedOmnibusStockIncentivePlan2020Member2024-01-012024-03-310001253986srt:ChiefExecutiveOfficerMemberus-gaap:PerformanceSharesMember2024-01-012024-03-310001253986us-gaap:ShareBasedPaymentArrangementEmployeeMemberus-gaap:RestrictedStockMember2024-01-012024-03-310001253986srt:PresidentMemberus-gaap:PerformanceSharesMember2024-01-012024-03-310001253986abr:OtherRelatedPartyTransactionsMemberus-gaap:RelatedPartyMember2024-01-012024-03-310001253986abr:OtherRelatedPartyTransactionsMemberus-gaap:RelatedPartyMember2023-01-012023-03-310001253986abr:MaturityDateDecember2025Memberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:BridgeLoanMember2023-05-310001253986abr:MaturityDateDecember2025Memberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:BridgeLoanMember2023-05-012023-05-30abr:officer0001253986abr:MaturityDateDecember2025Memberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:BridgeLoanMember2023-05-310001253986abr:MaturityDateDecember2025Memberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:BridgeLoanMember2023-05-012023-05-300001253986abr:MaturityDateDecember2025Memberus-gaap:RelatedPartyMemberus-gaap:BridgeLoanMember2024-01-012024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2025Memberus-gaap:BridgeLoanMember2022-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2025Memberus-gaap:BridgeLoanMember2024-01-012024-03-310001253986us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2025Memberus-gaap:BridgeLoanMember2022-12-310001253986abr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2025Memberus-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2022-01-012022-12-310001253986us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2025Member2022-12-310001253986us-gaap:RelatedPartyMemberabr:MaturityDateOfMarch2025Memberus-gaap:BridgeLoanMember2024-01-012024-03-310001253986us-gaap:RelatedPartyMemberabr:MaturityDateOfMarch2025Memberus-gaap:BridgeLoanMember2023-01-012023-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMay2025Memberus-gaap:BridgeLoanMember2022-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMay2025Memberus-gaap:BridgeLoanMember2024-01-012024-03-310001253986us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMay2025Memberus-gaap:BridgeLoanMember2022-12-310001253986us-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMay2025Memberus-gaap:BridgeLoanMember2022-01-012022-12-310001253986srt:MaximumMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMay2025Memberus-gaap:BridgeLoanMember2023-01-012023-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2025CommittedFebruary2022Memberus-gaap:BridgeLoanMember2022-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2025CommittedFebruary2022Memberus-gaap:BridgeLoanMember2024-01-012024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2025CommittedFebruary2022Memberus-gaap:BridgeLoanMemberabr:LondonInterbankOfferedRateLIBOR1Member2022-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2025CommittedFebruary2022Memberus-gaap:BridgeLoanMemberabr:LondonInterbankOfferedRateLIBOR1Member2022-01-012022-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2025Memberus-gaap:BridgeLoanMember2023-01-012023-03-310001253986us-gaap:RelatedPartyMember2021-12-310001253986us-gaap:RelatedPartyMemberabr:LimitedLiabilityCompany1Member2021-12-310001253986us-gaap:RelatedPartyMemberabr:RetailPropertyMember2021-12-310001253986abr:CommercialMortgageBackedSecurityMemberus-gaap:RelatedPartyMember2021-01-012021-12-310001253986abr:LimitedLiabilityCompany1Memberus-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2021-01-012021-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:BridgeLoanMemberabr:MaturityDateOfMarch2024Member2021-01-012021-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:BridgeLoanMemberabr:MaturityDateOfMarch2024Memberabr:LondonInterbankOfferedRateLIBOR1Member2021-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:BridgeLoanMemberabr:MaturityDateOfMarch2024Memberabr:LondonInterbankOfferedRateLIBOR1Member2021-01-012021-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:BridgeLoanMemberabr:MaturityDateOfMarch2024Member2023-01-012023-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateDecember2023Membersrt:SingleFamilyMemberus-gaap:BridgeLoanMember2020-01-012020-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:SingleFamilyMemberus-gaap:BridgeLoanMember2020-01-012020-12-310001253986abr:OtherRelatedPartyTransactionsMemberus-gaap:BridgeLoanMemberus-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2020-12-310001253986abr:OtherRelatedPartyTransactionsMemberabr:MaturityDateDecember2023Memberus-gaap:BridgeLoanMemberus-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2020-12-310001253986abr:OtherRelatedPartyTransactionsMemberabr:MaturityDateDecember2023Memberus-gaap:BridgeLoanMemberabr:LondonInterbankOfferedRateLIBOR1Memberus-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2020-01-012020-12-310001253986abr:OtherRelatedPartyTransactionsMemberabr:PreferredEquityInvestmentsInMortgageLoansMemberabr:MaturityDateDecember2023Memberus-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2020-01-012020-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:SingleFamilyMemberus-gaap:BridgeLoanMember2023-11-300001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:SingleFamilyMemberus-gaap:BridgeLoanMember2024-01-012024-03-310001253986abr:OtherRelatedPartyTransactionsMemberabr:MaturityDateDecember2023Memberabr:AcquisitionFinancingAgreementMemberus-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2024-01-012024-03-310001253986abr:OtherRelatedPartyTransactionsMemberabr:MaturityDateDecember2023Memberus-gaap:BridgeLoanMemberus-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember2023-01-012023-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMay2025Membersrt:SingleFamilyMemberus-gaap:BridgeLoanMember2020-01-012020-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:PreferredEquityInvestmentsInMortgageLoansMembersrt:SingleFamilyMember2020-01-012020-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:BridgeLoanMember2020-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturesInMay2023Memberus-gaap:BridgeLoanMemberabr:LondonInterbankOfferedRateLIBOR1Member2020-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturesInMay2023Memberus-gaap:BridgeLoanMemberabr:LondonInterbankOfferedRateLIBOR1Member2020-01-012020-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:PreferredEquityInvestmentsInMortgageLoansMemberabr:MaturesInApril2023Member2020-01-012020-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:SingleFamilyMemberus-gaap:BridgeLoanMember2023-04-300001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturesInMay2023Memberus-gaap:BridgeLoanMemberabr:LondonInterbankOfferedRateLIBOR1Member2024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturesInApril2023Memberus-gaap:BridgeLoanMember2024-01-012024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturesInApril2023Memberus-gaap:BridgeLoanMember2023-01-012023-03-310001253986abr:MaturityDateApril2030Memberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:BridgeLoanTwoMultifamilyPropertiesMember2020-12-310001253986abr:MaturityDateApril2030Memberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:PreferredEquityInvestmentsInMortgageLoansMembersrt:MultifamilyMember2020-12-310001253986abr:MaturityDateApril2030Memberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:MultifamilyMember2020-12-31abr:property0001253986abr:MaturityDateApril2030Memberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:BridgeLoanTwoMultifamilyPropertiesMember2020-01-012020-12-310001253986abr:MaturityDateApril2030Memberabr:MezzanineLoanMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMember2020-01-012020-12-310001253986abr:MezzanineLoanMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:SingleFamilyMember2024-01-012024-03-310001253986abr:MezzanineLoanMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:SingleFamilyMember2023-01-012023-03-310001253986us-gaap:RelatedPartyMemberabr:MaturityDateJuly2023Memberus-gaap:BridgeLoanMember2024-03-310001253986us-gaap:RelatedPartyMemberabr:PreferredEquityInvestmentsInMortgageLoansMemberabr:MaturityDateJune2027Member2024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:RealEstateInvestmentFundMember2019-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:RealEstateInvestmentFundMember2024-03-310001253986abr:MezzanineLoanMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:RealEstateInvestmentFundMember2019-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:RealEstateInvestmentFundMemberabr:BridgeLoanOneMultifamilyPropertyMember2019-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:OneMultifamilyPropertyMemberabr:MaturityDateOfAugust2023Member2020-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfAugust2023Memberabr:BridgeLoanOneMultifamilyPropertyMemberabr:LondonInterbankOfferedRateLIBOR1Member2020-01-012020-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:RealEstateInvestmentFundMember2024-01-012024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:RealEstateInvestmentFundMember2023-01-012023-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfAugust2023Memberabr:BridgeLoanOneMultifamilyPropertyMember2018-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfAugust2023Memberus-gaap:BridgeLoanMember2018-01-012018-12-310001253986abr:BridgeLoanSeveralMultifamilyPropertiesMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfAugust2023Memberabr:LondonInterbankOfferedRateLIBOR1Member2018-12-310001253986abr:BridgeLoanSeveralMultifamilyPropertiesMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfAugust2023Memberabr:LondonInterbankOfferedRateLIBOR1Member2018-01-012018-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfAugust2023Memberus-gaap:BridgeLoanMember2024-01-012024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfAugust2023Memberus-gaap:BridgeLoanMember2023-01-012023-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:MultifamilyMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2017-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:MultifamilyMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2017-01-012017-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:MultifamilyMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2023-01-012023-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMembersrt:MultifamilyMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2024-01-012024-03-310001253986abr:OtherRelatedPartyTransactionsMembersrt:DirectorMemberabr:GinkgoInvestmentCompanyLlcMember2017-01-012017-12-310001253986abr:OtherRelatedPartyTransactionsMembersrt:DirectorMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2017-12-310001253986abr:OtherRelatedPartyTransactionsMembersrt:DirectorMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2024-01-012024-03-310001253986abr:OtherRelatedPartyTransactionsMembersrt:DirectorMemberus-gaap:FederalNationalMortgageAssociationCertificatesAndObligationsFNMAMember2023-01-012023-03-310001253986abr:OtherRelatedPartyTransactionsMemberabr:BridgeLoanSixMultifamilyPropertiesMember2019-12-310001253986srt:ChiefExecutiveOfficerMemberabr:MezzanineLoanMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfJanuary2024Member2019-01-012019-12-310001253986srt:ChiefExecutiveOfficerMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfSeptember2019Memberabr:BridgeLoanSixMultifamilyPropertiesMember2024-01-012024-03-310001253986srt:ChiefExecutiveOfficerMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfSeptember2019Memberabr:BridgeLoanSixMultifamilyPropertiesMember2023-01-012023-03-310001253986srt:ChiefExecutiveOfficerMemberabr:OtherRelatedPartyTransactionsMembersrt:MinimumMemberabr:MaturityDateOf2019Memberabr:BridgeLoanSixMultifamilyPropertiesMember2019-01-012019-12-310001253986srt:ChiefExecutiveOfficerMembersrt:MaximumMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOf2019Memberabr:BridgeLoanSixMultifamilyPropertiesMember2019-01-012019-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:ResidentialMortgageBankingCompanyAcquisitionsMemberabr:ACMMember2015-01-012015-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:ACMMemberabr:ResidentialMortgageBankingCompanyAcquisitionsMember2015-01-012015-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:NoncontrollingInterestMemberabr:ResidentialMortgageBankingCompanyAcquisitionsMember2024-01-012024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberus-gaap:NoncontrollingInterestMemberabr:ResidentialMortgageBankingCompanyAcquisitionsMember2023-01-012023-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:LexfordPortfolioMember2024-01-012024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfJune2021Memberus-gaap:BridgeLoanMember2018-01-012018-12-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfJune2021Memberus-gaap:BridgeLoanMember2018-12-310001253986abr:LexfordPortfolioMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfJune2021Memberus-gaap:BridgeLoanMember2018-12-310001253986abr:LexfordPortfolioMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfJune2021Memberus-gaap:BridgeLoanMember2019-01-012019-12-310001253986abr:LexfordPortfolioMemberus-gaap:RelatedPartyMemberabr:PrivateLabelMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2030Member2020-12-310001253986abr:LexfordPortfolioMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfMarch2030Memberabr:PrivateLabelMember2020-01-012020-12-310001253986abr:LexfordPortfolioMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateOfJune2021Memberus-gaap:BridgeLoanMember2023-01-012023-03-310001253986abr:LexfordPortfolioMemberus-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:MaturityDateDecember2029Memberus-gaap:BridgeLoanMember2024-03-310001253986srt:ChiefExecutiveOfficerMemberabr:OtherRelatedPartyTransactionsMember2024-03-310001253986abr:OtherRelatedPartyTransactionsMembersrt:DirectorMember2024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:ACMMemberabr:AgencyPlatformAcquisitionMember2024-03-310001253986us-gaap:RelatedPartyMemberabr:OtherRelatedPartyTransactionsMemberabr:ACMMemberabr:AgencyPlatformAcquisitionMember2024-01-012024-03-310001253986srt:ChiefExecutiveOfficerMemberabr:OtherRelatedPartyTransactionsMembersrt:MinimumMember2024-03-310001253986us-gaap:OperatingSegmentsMemberabr:StructuredTransactionBusinessSegmentMember2024-01-012024-03-310001253986us-gaap:OperatingSegmentsMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986us-gaap:IntersegmentEliminationMember2024-01-012024-03-310001253986us-gaap:OperatingSegmentsMemberabr:StructuredTransactionBusinessSegmentMember2023-01-012023-03-310001253986us-gaap:OperatingSegmentsMemberabr:AgencyBusinessSegmentMember2023-01-012023-03-310001253986us-gaap:IntersegmentEliminationMember2023-01-012023-03-310001253986us-gaap:OperatingSegmentsMemberabr:StructuredTransactionBusinessSegmentMember2024-03-310001253986us-gaap:OperatingSegmentsMemberabr:AgencyBusinessSegmentMember2024-03-310001253986us-gaap:OperatingSegmentsMemberabr:StructuredTransactionBusinessSegmentMember2023-12-310001253986us-gaap:OperatingSegmentsMemberabr:AgencyBusinessSegmentMember2023-12-310001253986srt:MultifamilyMemberus-gaap:BridgeLoanMemberabr:StructuredTransactionBusinessSegmentMember2024-01-012024-03-310001253986srt:MultifamilyMemberus-gaap:BridgeLoanMemberabr:StructuredTransactionBusinessSegmentMember2023-01-012023-03-310001253986abr:SingleFamilyRentalBondsMemberus-gaap:BridgeLoanMemberabr:StructuredTransactionBusinessSegmentMember2024-01-012024-03-310001253986abr:SingleFamilyRentalBondsMemberus-gaap:BridgeLoanMemberabr:StructuredTransactionBusinessSegmentMember2023-01-012023-03-310001253986us-gaap:BridgeLoanMemberabr:StructuredTransactionBusinessSegmentMember2024-01-012024-03-310001253986us-gaap:BridgeLoanMemberabr:StructuredTransactionBusinessSegmentMember2023-01-012023-03-310001253986abr:MezzanineLoanMemberabr:StructuredTransactionBusinessSegmentMember2024-01-012024-03-310001253986abr:MezzanineLoanMemberabr:StructuredTransactionBusinessSegmentMember2023-01-012023-03-310001253986abr:StructuredTransactionBusinessSegmentMember2024-01-012024-03-310001253986abr:StructuredTransactionBusinessSegmentMember2023-01-012023-03-310001253986abr:FederalNationalMortgageAssociationLoansMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986abr:FederalNationalMortgageAssociationLoansMemberabr:AgencyBusinessSegmentMember2023-01-012023-03-310001253986abr:FederalHomeLoanMortgageCorporationLoansMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986abr:FederalHomeLoanMortgageCorporationLoansMemberabr:AgencyBusinessSegmentMember2023-01-012023-03-310001253986abr:PrivateLabelMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986abr:PrivateLabelMemberabr:AgencyBusinessSegmentMember2023-01-012023-03-310001253986abr:SingleFamilyRentalBondsMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986abr:SingleFamilyRentalBondsMemberabr:AgencyBusinessSegmentMember2023-01-012023-03-310001253986abr:FederalHousingAdministrationLoansMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986abr:FederalHousingAdministrationLoansMemberabr:AgencyBusinessSegmentMember2023-01-012023-03-310001253986abr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986abr:AgencyBusinessSegmentMember2023-01-012023-03-310001253986us-gaap:ServicingContractsMemberabr:FederalNationalMortgageAssociationLoansMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986us-gaap:ServicingContractsMemberabr:FederalNationalMortgageAssociationLoansMemberabr:AgencyBusinessSegmentMember2024-03-310001253986abr:FederalHomeLoanMortgageCorporationLoansMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986abr:FederalHomeLoanMortgageCorporationLoansMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2024-03-310001253986abr:PrivateLabelMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986abr:PrivateLabelMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2024-03-310001253986abr:FederalHousingAdministrationLoansMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986abr:FederalHousingAdministrationLoansMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2024-03-310001253986us-gaap:BridgeLoanMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986us-gaap:BridgeLoanMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2024-03-310001253986us-gaap:ServicingContractsMemberabr:SingleFamilyRentalBondsMemberabr:AgencyBusinessSegmentMember2024-01-012024-03-310001253986us-gaap:ServicingContractsMemberabr:SingleFamilyRentalBondsMemberabr:AgencyBusinessSegmentMember2024-03-310001253986us-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2024-03-310001253986us-gaap:ServicingContractsMemberabr:FederalNationalMortgageAssociationLoansMemberabr:AgencyBusinessSegmentMember2023-01-012023-12-310001253986us-gaap:ServicingContractsMemberabr:FederalNationalMortgageAssociationLoansMemberabr:AgencyBusinessSegmentMember2023-12-310001253986abr:FederalHomeLoanMortgageCorporationLoansMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2023-01-012023-12-310001253986abr:FederalHomeLoanMortgageCorporationLoansMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2023-12-310001253986abr:PrivateLabelMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2023-01-012023-12-310001253986abr:PrivateLabelMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2023-12-310001253986abr:FederalHousingAdministrationLoansMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2023-01-012023-12-310001253986abr:FederalHousingAdministrationLoansMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2023-12-310001253986us-gaap:BridgeLoanMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2023-01-012023-12-310001253986us-gaap:BridgeLoanMemberus-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2023-12-310001253986us-gaap:ServicingContractsMemberabr:SingleFamilyRentalBondsMemberabr:AgencyBusinessSegmentMember2023-01-012023-12-310001253986us-gaap:ServicingContractsMemberabr:SingleFamilyRentalBondsMemberabr:AgencyBusinessSegmentMember2023-12-310001253986us-gaap:ServicingContractsMemberabr:AgencyBusinessSegmentMember2023-12-31
Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
þQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 2024
or
oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number: 001-32136
Arbor Realty Trust, Inc.
(Exact name of registrant as specified in its charter)
Maryland20-0057959
(State or other jurisdiction of incorporation)(I.R.S. Employer Identification No.)
333 Earle Ovington Boulevard, Suite 900, Uniondale, NY
(Address of principal executive offices)
11553
(Zip Code)
(Registrant’s telephone number, including area code): (516) 506-4200
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading symbolsName of each exchange on which registered
Common Stock, par value $0.01 per shareABRNew York Stock Exchange
Preferred Stock, 6.375% Series D Cumulative
Redeemable, par value $0.01 per share
ABR-PDNew York Stock Exchange
Preferred Stock, 6.25% Series E Cumulative
Redeemable, par value $0.01 per share
ABR-PENew York Stock Exchange
Preferred Stock, 6.25% Series F Fixed-to-Floating Rate Cumulative Redeemable, par value $0.01 per shareABR-PFNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filerþAccelerated fileroNon-accelerated filero
Smaller reporting company oEmerging growth companyo
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ
Issuer has 188,514,660 shares of common stock outstanding at April 26, 2024.


Table of Contents
INDEX


Table of Contents
Forward-Looking Statements
The information contained in this quarterly report on Form 10-Q is not a complete description of our business or the risks associated with an investment in Arbor Realty Trust, Inc. We urge you to carefully review and consider the various disclosures in this report, as well as information in our annual report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”) filed with the Securities and Exchange Commission (“SEC”) on February 20, 2024 and in our other reports and filings with the SEC.
This report contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, among other things, the operating performance of our investments and financing needs. We use words such as “anticipate,” “expect,” “believe,” “intend,” “should,” “could,” “will,” “may” and similar expressions to identify forward-looking statements, although not all forward-looking statements include these words. Forward-looking statements are based on certain assumptions, discuss future expectations, describe future plans and strategies, contain projections of results of operations or of financial condition or state other forward-looking information. Our ability to predict results or the actual effect of future plans or strategies is inherently uncertain. These forward-looking statements involve risks, uncertainties and other factors that may cause our actual results in future periods to differ materially from forecasted results. Factors that could have a material adverse effect on our operations and future prospects include, but are not limited to, changes in economic, macroeconomic and geopolitical conditions generally, and the real estate market specifically; adverse changes in our status with government-sponsored enterprises affecting our ability to originate loans through such programs; changes in interest rates; the quality and size of the investment pipeline and the rate at which we can invest our cash; impairments in the value of the collateral underlying our loans and investments; inflation; changes in federal and state laws and regulations, including changes in tax laws; the availability and cost of capital for future investments; and competition. Readers are cautioned not to place undue reliance on any of these forward-looking statements, which reflect our views as of the date of this report. The factors noted above could cause our actual results to differ significantly from those contained in any forward-looking statement.
Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. We are under no duty to update any of the forward-looking statements after the date of this report to conform these statements to actual results.
1

Table of Contents
PART I.    FINANCIAL INFORMATION
Item 1.    Financial Statements
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
($ in thousands, except share and per share data)
March 31, 2024December 31, 2023
(Unaudited)
Assets:
Cash and cash equivalents$908,049 $928,974 
Restricted cash 546,643 608,233 
Loans and investments, net (allowance for credit losses of $211,942 and $195,664)
12,001,544 12,377,806 
Loans held-for-sale, net322,875 551,707 
Capitalized mortgage servicing rights, net385,520 391,254 
Securities held-to-maturity, net (allowance for credit losses of $7,597 and $6,256)
155,413 155,279 
Investments in equity affiliates90,244 79,303 
Due from related party 104,365 64,421 
Goodwill and other intangible assets90,205 91,378 
Other assets 499,998 490,281 
Total assets$15,104,856 $15,738,636 
Liabilities and Equity:
Credit and repurchase facilities$2,913,483 $3,237,827 
Securitized debt6,691,958 6,935,010 
Senior unsecured notes1,335,013 1,333,968 
Convertible senior unsecured notes283,776 283,118 
Junior subordinated notes to subsidiary trust issuing preferred securities144,096 143,896 
Due to related party 14,159 13,799 
Due to borrowers95,807 121,707 
Allowance for loss-sharing obligations72,790 71,634 
Other liabilities319,466 343,072 
Total liabilities11,870,548 12,484,031 
Commitments and contingencies (Note 13)  
Equity:
Arbor Realty Trust, Inc. stockholders' equity:
Preferred stock, cumulative, redeemable, $0.01 par value: 100,000,000 shares authorized, shares issued and outstanding by period:
633,684 633,684 
       Special voting preferred shares - 16,293,589 shares
       6.375% Series D - 9,200,000 shares
       6.25% Series E - 5,750,000 shares
       6.25% Series F - 11,342,000 shares
Common stock, $0.01 par value: 500,000,000 shares authorized - 189,452,116 and 188,505,264 shares issued and outstanding
1,895 1,885 
Additional paid-in capital2,372,336 2,367,188 
Retained earnings91,770 115,216 
Total Arbor Realty Trust, Inc. stockholders' equity3,099,685 3,117,973 
Noncontrolling interest134,623 136,632 
Total equity3,234,308 3,254,605 
Total liabilities and equity $15,104,856 $15,738,636 
Note: Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities, or VIEs, as we are the primary beneficiary of these VIEs. At March 31, 2024 and December 31, 2023, assets of our consolidated VIEs totaled $8,289,662 and $8,614,571, respectively, and the liabilities of our consolidated VIEs totaled $6,715,750 and $6,967,877, respectively. See Note 14 for discussion of our VIEs.
See Notes to Consolidated Financial Statements.
2

Table of Contents
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
($ in thousands, except share and per share data)
Three Months Ended March 31,
20242023
Interest income$321,292 $327,947 
Interest expense217,676 219,373 
Net interest income103,616 108,574 
Other revenue:
Gain on sales, including fee-based services, net16,666 14,589 
Mortgage servicing rights10,199 18,458 
Servicing revenue, net31,526 29,565 
Property operating income1,570 1,381 
Gain (loss) on derivative instruments, net(5,257)4,223 
Other income, net2,333 4,882 
Total other revenue57,037 73,098 
Other expenses:
Employee compensation and benefits47,694 42,399 
Selling and administrative13,933 13,623 
Property operating expenses1,678 1,383 
Depreciation and amortization2,571 2,624 
Provision for loss sharing (net of recoveries)273 3,177 
Provision for credit losses (net of recoveries)19,118 22,517 
Total other expenses85,267 85,723 
Income before income from equity affiliates and income taxes75,386 95,949 
Income from equity affiliates1,418 14,326 
Provision for income taxes(3,592)(8,029)
Net income73,212 102,246 
Preferred stock dividends10,342 10,342 
Net income attributable to noncontrolling interest4,997 7,585 
Net income attributable to common stockholders$57,873 $84,319 
Basic earnings per common share$0.31 $0.47 
Diluted earnings per common share$0.31 $0.46 
Weighted average shares outstanding:
Basic188,710,390181,116,674
Diluted222,926,076214,910,974
Dividends declared per common share$0.43 $0.40 
See Notes to Consolidated Financial Statements.
3

Table of Contents
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited)
($ in thousands, except shares)
Three Months Ended March 31, 2024
Preferred
Stock
Shares
Preferred
Stock
Value
Common
Stock
Shares
Common
Stock
Par Value
Additional
Paid-in
Capital
Retained
Earnings
Total Arbor
Realty Trust, Inc.
Stockholders’
Equity
Noncontrolling
Interest
Total Equity
Balance – January 1, 202442,585,589$633,684 188,505,264$1,885 $2,367,188 $115,216 $3,117,973 $136,632 $3,254,605 
Stock-based compensation, net— 946,852 10 5,148 — 5,158 — 5,158 
Distributions - common stock— — — (81,314)(81,314)— (81,314)
Distributions - preferred stock— — — (10,347)(10,347)— (10,347)
Distributions - noncontrolling interest— — — — — (7,006)(7,006)
Net income— — — 68,215 68,215 4,997 73,212 
Balance – March 31, 202442,585,589$633,684 189,452,116$1,895 $2,372,336 $91,770 $3,099,685 $134,623 $3,234,308 
Three Months Ended March 31, 2023
Balance – January 1, 202342,585,589$633,684 178,230,522$1,782 $2,204,481 $97,049 $2,936,996 $134,883 $3,071,879 
Issuance - common stock— 5,635,80056 82,688 — 82,744 — 82,744 
Repurchase - common stock— (886,432)(9)(9,662)— (9,671)— (9,671)
Stock-based compensation, net— 841,1139 780 — 789 — 789 
Distributions - common stock— — — (73,666)(73,666)— (73,666)
Distributions - preferred stock— — — (10,347)(10,347)— (10,347)
Distributions - noncontrolling interest— — — — — (6,517)(6,517)
Net income— — — 94,661 94,661 7,585 102,246 
Balance – March 31, 202342,585,589$633,684 183,821,003$1,838 $2,278,287 $107,697 $3,021,506 $135,951 $3,157,457 

See Notes to Consolidated Financial Statements.
4

Table of Contents
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(in thousands)
Three Months Ended March 31,
20242023
Operating activities:
Net income $73,212 $102,246 
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization2,571 2,624 
Stock-based compensation6,020 5,901 
Amortization and accretion of interest and fees, net(46)(236)
Amortization of capitalized mortgage servicing rights16,631 15,416 
Originations of loans held-for-sale(857,805)(1,033,384)
Proceeds from sales of loans held-for-sale, net of gain on sale1,085,374 921,522 
Mortgage servicing rights(10,199)(18,458)
Write-off of capitalized mortgage servicing rights from payoffs1,787 3,307 
Provision for loss sharing (net of recoveries)273 3,177 
Provision for credit losses (net of recoveries)19,118 22,517 
Net charge-offs for loss sharing obligations883 (588)
Deferred tax (benefit) provision(3,952)3,164 
Income from equity affiliates(1,418)(14,326)
Distributions from operations of equity affiliates 4,748 
Change in fair value of held-for-sale loans(19)(2,960)
Loss (gain) on derivative instruments, net5,257 (4,223)
Payoffs and paydowns of loans held-for-sale14 13 
Changes in operating assets and liabilities(77,745)(67,245)
Net cash provided by (used in) operating activities259,956 (56,785)
Investing Activities:
Loans and investments funded, originated and purchased(313,557)(380,633)
Payoffs and paydowns of loans and investments670,388 1,191,076 
Deferred fees3,464 3,953 
Contributions to equity affiliates(9,593)(500)
Distributions from equity affiliates69 11,567 
Payoffs and paydowns of securities held-to-maturity47 2,580 
Due to borrowers and reserves(19,234) 
Net cash provided by investing activities331,584 828,043 
Financing activities:
Proceeds from credit and repurchase facilities1,865,362 1,849,389 
Paydowns and payoffs of credit and repurchase facilities(2,187,147)(2,042,692)
Payoffs and paydowns of securitized debt(246,165)(344,547)
Proceeds from issuance of common stock 82,744 
Proceeds from issuance of senior unsecured notes 95,000 
Payoffs and paydowns of senior unsecured notes (70,750)
Payments of withholding taxes on net settlement of vested stock(862)(5,112)
Repurchase of common stock (9,671)
Distributions to stockholders(98,667)(90,530)
Payment of deferred financing costs(6,576)(3,866)
Net cash used in financing activities(674,055)(540,035)
Net (decrease) increase in cash, cash equivalents and restricted cash(82,515)231,223 
Cash, cash equivalents and restricted cash at beginning of period1,537,207 1,248,165 
Cash, cash equivalents and restricted cash at end of period$1,454,692 $1,479,388 
See Notes to Consolidated Financial Statements.
5

Table of Contents
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Continued)
(in thousands)
Three Months Ended March 31,
20242023
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents at beginning of period$928,974 $534,357 
Restricted cash at beginning of period608,233 713,808 
Cash, cash equivalents and restricted cash at beginning of period$1,537,207 $1,248,165 
Cash and cash equivalents at end of period$908,049 $774,544 
Restricted cash at end of period546,643 704,844 
Cash, cash equivalents and restricted cash at end of period$1,454,692 $1,479,388 
Supplemental cash flow information:
Cash used to pay interest$209,712 $213,849 
Cash used to pay taxes567 1,032 
Supplemental schedule of non-cash investing and financing activities:
Distributions accrued on preferred stock7,010 7,010 
See Notes to Consolidated Financial Statements.
6

Table of Contents
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
Note 1 — Description of Business
Arbor Realty Trust, Inc. (“we,” “us,” or “our”) is a Maryland corporation formed in 2003. We are a nationwide real estate investment trust (“REIT”) and direct lender, providing loan origination and servicing for commercial real estate assets. We operate through two business segments: our Structured Loan Origination and Investment Business, or “Structured Business,” and our Agency Loan Origination and Servicing Business, or “Agency Business.”
Through our Structured Business, we invest in a diversified portfolio of structured finance assets in the multifamily, single-family rental (“SFR”) and commercial real estate markets, primarily consisting of bridge loans, in addition to mezzanine loans, junior participating interests in first mortgages and preferred and direct equity. We also invest in real estate-related joint ventures and may directly acquire real property and invest in real estate-related notes and certain mortgage-related securities.
Through our Agency Business, we originate, sell and service a range of multifamily finance products through the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac,” and together with Fannie Mae, the government-sponsored enterprises, or “GSEs”), the Government National Mortgage Association (“Ginnie Mae”), Federal Housing Authority (“FHA”) and the U.S. Department of Housing and Urban Development (together with Ginnie Mae and FHA, “HUD”). We retain the servicing rights and asset management responsibilities on substantially all loans we originate and sell under the GSE and HUD programs. We are an approved Fannie Mae Delegated Underwriting and Servicing (“DUS”) lender nationally, a Freddie Mac Multifamily Conventional Loan lender, seller/servicer in New York, New Jersey and Connecticut, a Freddie Mac affordable, manufactured housing, senior housing and small balance loan (“SBL”) lender, seller/servicer nationally and a HUD MAP and LEAN senior housing/healthcare lender nationally. We also originate and retain the servicing rights on permanent financing loans underwritten using the guidelines of our existing agency loans sold to the GSEs, which we refer to as “Private Label” loans and originate and sell finance products through CMBS programs. We either sell the Private Label loans instantaneously or pool and securitize them and sell certificates in the securitizations to third party investors, while retaining the highest risk bottom tranche certificate of the securitization.
Substantially all of our operations are conducted through our operating partnership, Arbor Realty Limited Partnership (“ARLP”), for which we serve as the indirect general partner, and ARLP’s subsidiaries. We are organized to qualify as a REIT for U.S. federal income tax purposes. A REIT is generally not subject to federal income tax on that portion of its REIT-taxable income that is distributed to its stockholders, provided that at least 90% of taxable income is distributed and provided that certain other requirements are met. Certain of our assets that produce non-qualifying REIT income, primarily within the Agency Business, are operated through taxable REIT subsidiaries (“TRS”), which are part of our TRS consolidated group (the “TRS Consolidated Group”) and are subject to U.S. federal, state and local income taxes. In general, our TRS entities may hold assets that the REIT cannot hold directly and may engage in real estate or non-real estate-related business.
Note 2 — Basis of Presentation and Significant Accounting Policies
Basis of Presentation
The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), for interim financial statements and the instructions to Form 10-Q. Accordingly, certain information and footnote disclosures normally included in the consolidated financial statements prepared under GAAP have been condensed or omitted. In our opinion, all adjustments considered necessary for a fair presentation of our financial position, results of operations and cash flows have been included and are of a normal and recurring nature. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. These financial statements should be read in conjunction with our financial statements and notes thereto included in our 2023 Annual Report.
Principles of Consolidation
The consolidated financial statements include our financial statements and the financial statements of our wholly owned subsidiaries, partnerships and other entities in which we own a controlling interest, including variable interest entities (“VIEs”) of which we are the primary beneficiary. Entities in which we have a significant influence are accounted for under the equity method. Our VIEs are described in Note 14. All significant intercompany transactions and balances have been eliminated in consolidation.
Use of Estimates
The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that could materially affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. The ultimate impact of inflation, increasing interest rates, bank failures, tightening of capital markets and reduced property values, both globally and to our business, makes any estimate or assumption at March 31, 2024 inherently less certain.
7

Table of Contents
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
Recently Issued Accounting Pronouncements
In March 2024, the Financial Accounting Standards Board issued Accounting Standards Update ("ASU") 2024-01, Compensation – Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards, effective in the first quarter of 2025. We currently do not have any transactions that fall under the scope of this ASU; therefore, the adoption is not expected to have an impact on our consolidated financial statements.
Significant Accounting Policies
See Item 8 – Financial Statements and Supplementary Data in our 2023 Annual Report for a description of our significant accounting policies. There have been no significant changes to our significant accounting policies since December 31, 2023.
Note 3 — Loans and Investments
Our Structured Business loan and investment portfolio consists of ($ in thousands):
March 31, 2024Percent of
Total
Loan
Count
Wtd. Avg.
Pay Rate (1)
Wtd. Avg.
Remaining
Months to
Maturity (2)
Wtd. Avg.
First Dollar
LTV Ratio (3)
Wtd. Avg.
Last Dollar
LTV Ratio (4)
Bridge loans (5)$11,866,289 97 %6988.11 %11.40 %81 %
Mezzanine loans260,414 2 %557.87 %53.349 %82 %
Preferred equity investments117,431 1 %265.09 %57.954 %78 %
SFR permanent loans5,728 <1% 29.94 %12.80 %53 %
Total UPB12,249,862 100 %7818.07 %12.82 %81 %
Allowance for credit losses(211,942)
Unearned revenue(36,376)
Loans and investments, net$12,001,544 
December 31, 2023
Bridge loans (5)$12,273,244 97 %6798.45 %12.00 %78 %
Mezzanine loans248,457 2 %498.41 %56.648 %80 %
Preferred equity investments85,741 1 %173.95 %60.353 %82 %
SFR permanent loans7,564 <1% 29.84 %13.90 %56 %
Total UPB12,615,006 100 %7478.42 %13.21 %78 %
Allowance for credit losses(195,664)
Unearned revenue(41,536)
Loans and investments, net$12,377,806 
________________________
(1)“Weighted Average Pay Rate” is a weighted average, based on the unpaid principal balance (“UPB”) of each loan in our portfolio, of the interest rate required to be paid monthly as stated in the individual loan agreements. Certain loans and investments that require an accrual rate to be paid at maturity are not included in the weighted average pay rate as shown in the table.
(2)Including extension options, the weighted average remaining months to maturity at March 31, 2024 and December 31, 2023 was 27.6 and 29.4, respectively.
(3)The “First Dollar Loan-to-Value (“LTV”) Ratio” is calculated by comparing the total of our senior most dollar and all senior lien positions within the capital stack to the fair value of the underlying collateral to determine the point at which we will absorb a total loss of our position.
(4)The “Last Dollar LTV Ratio” is calculated by comparing the total of the carrying value of our loan and all senior lien positions within the capital stack to the fair value of the underlying collateral to determine the point at which we will initially absorb a loss.
(5)At March 31, 2024 and December 31, 2023, bridge loans included 389 and 354, respectively, of SFR loans with a total gross loan commitment of $3.21 billion and $2.86 billion, respectively, of which $1.45 billion and $1.32 billion, respectively, was funded.
8

Table of Contents
ARBOR REALTY TRUST, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)
Concentration of Credit Risk
We are subject to concentration risk in that, at both March 31, 2024 and December 31, 2023, the UPB related to 31 loans with five different borrowers represented 11% of total assets. During the three months ended March 31, 2024 and the year ended December 31, 2023, no single loan or investment represented more than 10% of our total assets and no single investor group generated over 10% of our revenue. See Note 17 for details on our concentration of related party loans and investments.
We assign a credit risk rating of pass, pass/watch, special mention, substandard or doubtful to each loan and investment, with a pass rating being the lowest risk and a doubtful rating being the highest risk. Each credit risk rating has benchmark guidelines that pertain to debt-service coverage ratios, LTV ratios, borrower strength, asset quality, and funded cash reserves. Other factors such as guarantees, market strength, and remaining loan term and borrower equity are also reviewed and factored into determining the credit risk rating assigned to each loan. This metric provides a helpful snapshot of portfolio quality and credit risk. All portfolio assets are subject to, at a minimum, a thorough quarterly financial evaluation in which historical operating performance and forward-looking projections are reviewed, however, we maintain a higher level of scrutiny and focus on loans that we consider “high risk” and that possess deteriorating credit quality.
Generally speaking, given our typical loan profile, risk ratings of pass, pass/watch and special mention suggest that we expect the loan to make both principal and interest payments according to the contractual terms of the loan agreement. A risk rating of substandard indicates we anticipate the loan may require a modification of some kind. A risk rating of doubtful indicates we expect the loan to underperform over its term, and there could be loss of interest and/or principal. Further, while the above are the primary guidelines used in determining a certain risk rating, subjective items such as borrower strength, market strength or asset quality may result in a rating that is higher or lower than might be indicated by any risk rating matrix.
A summary of the loan portfolio’s internal risk ratings and LTV ratios by asset class at March 31, 2024, and charge-offs recorded for the three months ended March 31, 2024 is as follows ($ in thousands):
UPB by Origination YearTotalWtd. Avg.
First Dollar
LTV Ratio
Wtd. Avg.
Last Dollar
LTV Ratio
Asset Class / Risk Rating20242023202220212020Prior
Multifamily:
Pass$36,060 $92,062 $52,027 $8,835 $2,010 $24,879 $215,873 
Pass/Watch36,501 319,437 2,336,702 1,846,835 119,860 113,100 4,772,435 
Special Mention9,069 3,014 1,771,071 2,787,716 28,250 167,229 4,766,349 
Substandard 21,100 467,123 151,612 8,006 350 648,191 
Doubtful  4,800 174,235 14,800 9,765 203,600 
Total Multifamily$81,630 $435,613 $4,631,723 $4,969,233 $172,926 $315,323 $10,606,448 2 %84 %
Single-Family Rental:Percentage of portfolio87 %
Pass$ $ $9,476 $9,673 $ $ $19,149 
Pass/Watch105,172 308,123 446,660 174,652 126,066  1,160,673 
Special Mention6,496 57,147 77,385 129,906   270,934 
Total Single-Family Rental$111,668 $365,270 $533,521 $314,231 $126,066 $ $1,450,756 0 %63 %
Land:Percentage of portfolio12 %
Pass/Watch$ $ $ $ $8,100 $ $8,100 
Substandard     127,928 127,928 
Total Land$ $ $ $ $8,100 $127,928 $136,028 0 %97 %
Office:Percentage of portfolio1 %
Special Mention$ $ $ $ $35,410 $ $35,410 
Total Office$ $ $ $ $35,410 $ $35,410 0 %80 %
Retail:Percentage of portfolio< 1%
Substandard$ $ $ $ $ $19,520 $19,520 
Total Retail$ $ $ $ $ $19,520 $19,520 0 %95 %
Commercial:Percentage of portfolio< 1%
Doubtful$ $ $ $ $ $1,700 $1,700 
Total Other$ $ $ $ $ $1,700 $1,700 63 %66 %
Percentage of portfolio < 1%
Grand Total$193,298 $800,883 $5,165,244 $5,283,464 $