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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)
March 15, 2007 (March 15, 2007)

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Arbor Realty Trust, Inc.
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(Exact name of registrant as specified in its charter)

Maryland                   001-32136               20-0057959
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(State or other               (Commission             (IRS Employer
jurisdiction of               File Number)         Identification No.)
incorporation)

333 Earle Ovington Boulevard, Suite 900 Uniondale, New York 11553

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(Address of principal executive offices) (Zip Code)

(516) 832-8002
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(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

[ ]  Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))

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Arbor Realty Trust, Inc.
Current Report on Form 8-K

ITEM 8.01   OTHER EVENTS.

On March 15, 2007, Arbor Realty Trust, Inc. (the "Company") issued a
press release announcing that it has received a distribution of approximately
$16 million from 2170-2178 Broadway Owner LLC, an entity in which the Company
owned a 33.33% profits interest. A copy of the press release is attached hereto
as Exhibit 99.1.

ITEM 9.01.  FINANCIAL STATEMENTS AND EXHIBITS.

(d)      Exhibits

Exhibit Number
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99.1            Press Release, dated March 15, 2007.

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Dated: March 15, 2007                     ARBOR REALTY TRUST, INC.

By:    /s/ Walter K. Horn
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Name:  Walter K. Horn
Title: General Counsel, Secretary and
Director of Compliance

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EXHIBIT INDEX

Exhibit Number
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99.1            Press Release, dated March 15, 2007.

4

Exhibit 99.1

ARBOR REALTY TRUST RECEIVES $16 MILLION DISTRIBUTION FROM EQUITY PARTICIPATION
INTEREST

UNIONDALE, N.Y., March 15 /PRNewswire-FirstCall/-- Arbor Realty Trust,
Inc. (NYSE: ABR), a real estate investment trust focused on the business of
investing in real estate related bridge and mezzanine loans, preferred and
direct equity investments, mortgage-related securities and other real estate
related assets, today announced that it has received a distribution of
approximately $16 million from 2170-2178 Broadway Owner LLC "Broadway", an
entity in which Arbor owned a 33.33% profits interest.

Broadway owned and operated On the Avenue, an upscale boutique hotel in
Manhattan, which it sold with the Company receiving approximately $16 million
for its profits interest. In addition, the Company had $30 million of
outstanding debt and preferred equity to the partnership, which was repaid in
full, including all applicable interest.

The Company owned its profits interest through a taxable REIT subsidiary
and therefore, the proceeds are subject to corporate income tax. The Company
will record approximately $7 million in income for the quarter ended March 31,
2007, related to the proceeds received from the profits interest, net of the
estimated incentive management fee to the Company's manager and estimated
taxes. The Company intends to retain substantially all of the net proceeds and
invest in new loans and investments generating increased core earnings.

"We are extremely pleased with our ability to monetize another equity
kicker," said Ivan Kaufman, Chairman and Chief Executive Officer of Arbor. "As
we have stated many times, these equity kickers are a significant component of
our business model and these distributions continue to validate the
performance of these unique investments. These distributions have greatly
contributed to our bottom line and further enhance our franchise value. In
addition, the ability to retain a substantial amount of these distributions
has significantly increased our capital base without substantially diluting
our current shareholders and allows us to invest these funds in new loans and
investments generating increased core earnings growth."

About Arbor Realty Trust, Inc.

Arbor Realty Trust, Inc. is a real estate investment trust which invests
in a diversified portfolio of multi-family and commercial real estate related
bridge and mezzanine loans, preferred equity investments, mortgage related
securities and other real estate related assets. Arbor commenced operations in
July 2003 and conducts substantially all of its operations through its
operating partnership, Arbor Realty Limited Partnership and its subsidiaries.
Arbor is externally managed and advised by Arbor Commercial Mortgage, LLC, a
national commercial real estate finance company operating through 11 offices
in the US that specializes in debt and equity financing for multi-family and
commercial real estate.

Safe Harbor Statement

Certain items in this press release may constitute forward-looking
statements within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These statements are based on
management's current expectations and beliefs and are subject to a number of
trends and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements.  Arbor can give no
assurance that its expectations will be attained.  Factors that could cause
actual results to differ materially from Arbor's expectations include, but are
not limited to, continued ability to source new investments, changes in
interest rates and/or credit spreads, changes in the real estate markets, and
other risks detailed in Arbor's Annual Report on Form 10-K for the year ended
December 31, 2006 and its other reports filed with the SEC. Such
forward-looking statements speak only as of the date of this press release.
Arbor expressly disclaims any obligation or undertaking to release publicly
any updates or revisions to any forward-looking statements contained herein to
reflect any change in Arbor's expectations with regard thereto or change in
events, conditions, or circumstances on which any such statement is based.

Contacts:                              Investors:
Arbor Realty Trust, Inc.               Stephanie Carrington/ Denise Roche
Paul Elenio, Chief Financial Officer   The Ruth Group
516-832-7422                           646-536-7017 / 7008
pelenio@arbor.com                      scarrington@theruthgroup.com
droche@theruthgroup.com

Media:
Bonnie Habyan, SVP of Marketing
516-229-6615
bhabyan@arbor.com

SOURCE  Arbor Realty Trust, Inc.
-0-                             03/15/2007
/CONTACT:  Paul Elenio, Chief Financial Officer, +1-516-832-7422,
pelenio@arbor.com, or media, Bonnie Habyan, SVP of Marketing, +1-516-229-6615,
bhabyan@arbor.com, both of Arbor Realty Trust, Inc.; or investors, Stephanie
Carrington, +1-646-536-7017, scarrington@theruthgroup.com, or Denise Roche,
+1-646-536-7008, droche@theruthgroup.com, both of The Ruth Group, for Arbor
Realty Trust, Inc./
(ABR)