Arbor Realty Trust Closes a $2.10 Billion Collateralized Loan Obligation Securitization
13 Décembre 2021 - 10:10PM
Arbor Realty Trust, Inc. (NYSE: ABR), today announced the closing
of a $2.10 billion commercial real estate mortgage loan
securitization (the “Securitization”). An aggregate of
approximately $1.71 billion of investment grade-rated notes were
issued (the “Notes”) and Arbor retained subordinate interests in
the issuing vehicle of approximately $386 million. The $2.10
billion of collateral includes approximately $315 million of
capacity to acquire additional loans for a period of up to 180 days
from the closing date of the Securitization.
The Notes have an
initial weighted average spread of 1.68% over one-month LIBOR,
excluding fees and transaction costs. The facility has an
approximate two-and-a-half-year replenishment period that allows
the principal proceeds from repayments of the portfolio assets to
be reinvested in qualifying replacement assets, subject to certain
conditions.
The offering of the investment grade-rated Notes
was made pursuant to a private placement. The investment
grade-rated Notes were issued under an indenture and secured
initially by a portfolio of real estate related assets and cash
with a face value of $2.10 billion, with such real estate related
assets consisting primarily of first mortgage bridge loans.
Arbor intends to own the portfolio of real
estate related assets through the vehicle until its maturity and
expects to account for the Securitization on its balance sheet as a
financing. Arbor will use the proceeds of this Securitization to
repay borrowings under its current credit facilities, pay
transaction expenses and to fund future loans and investments.
Certain of the Notes were rated by Moody's
Investors Service, Inc. and all of the Notes were rated by DBRS,
Inc.
The Notes are not registered under the
Securities Act of 1933, as amended, and may not be offered or sold
in the United States absent an applicable exemption from
registration requirements. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such
state or jurisdiction.
About Arbor
Realty Trust, Inc.
Arbor Realty Trust, Inc. (NYSE: ABR) is a
nationwide real estate investment trust and direct lender,
providing loan origination and servicing for multifamily,
single-family rental (SFR) portfolios, and other diverse commercial
real estate assets. Headquartered in New York, Arbor manages a
multibillion-dollar servicing portfolio, specializing in
government-sponsored enterprise products. Arbor is a leading Fannie
Mae DUS® lender, Freddie Mac Optigo® Seller/Servicer, and an
approved FHA Multifamily Accelerated Processing (MAP) lender.
Arbor’s product platform also includes bridge, CMBS, mezzanine, and
preferred equity loans. Rated by Standard and Poor’s and Fitch
Ratings, Arbor is committed to building on its reputation for
service, quality, and customized solutions with an unparalleled
dedication to providing our clients excellence over the entire life
of a loan.
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, changes in
economic conditions generally, and the real estate markets
specifically, in particular, due to the uncertainties created by
the COVID-19 pandemic, continued ability to source new investments,
changes in interest rates and/or credit spreads, and other risks
detailed in Arbor’s Annual Report on Form 10-K for the year ended
December 31, 2020 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.
Contact:Arbor Realty Trust, Inc.Paul Elenio,
Chief Financial Officer 516-506-4422pelenio@arbor.com
Arbor Realty (NYSE:ABR)
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