UNIONDALE, N.Y., April 15, 2020 /PRNewswire/ -- Arbor Realty
Trust, Inc. (NYSE:ABR), one of the nation's leading multifamily
lenders, today launched an innovative $2
million rental assistance program to help thousands of
tenants and families significantly impacted by the COVID-19
outbreak. The Arbor Rental Assistance Program (ARAP) is a unique
goodwill initiative intended to supplement existing government rent
relief programs and leverage private capital to fill critical gaps
for people who are impacted by a loss of income due to
"As one of the most active lenders in the industry offering
workforce housing loans, we want to do our part to help ease the
burden for those who've been severely impacted by COVID-19," said
Ivan Kaufman, President and CEO of
Arbor Realty Trust. "For those who have unfortunately lost income
and are temporarily unable to meet their rent obligations, we are
looking to provide some much-needed relief until they are able to
stabilize their situations."
What makes ARAP unique is its focus on incorporating a
partnership with the Company's ecosystem of borrowers and property
owners. Arbor is contributing $1
million to the program and participating borrowers will
match Arbor's advances to its tenants in need to help fill the rent
gap during the hard-hit months of May and June. Together, the
partnership program will provide $2
million in relief, creating financial stability not only for
the tenants, but for the borrowers and property owners who provide
affordable housing to working families across America.
The program will be offered to tenants at the properties Arbor
finances across the country on a first-come, first-served
"I commend Arbor for leading this effort and for creating an
approach that has the potential for helping so many people," said
Mark Osgood, President of MDO
Capital, Inc. "By reaching out and collaborating during this time,
as an owner, I am able to help people in a truly meaningful way
that, in essence, helps the entire multifamily economic
David Lynd, CEO of Lynd, which
owns and operates more than 20,000 multifamily units across the
country, added, "Crisis brings out the true character of human
beings. With this program, Arbor has made a statement and we
appreciate their efforts."
"The apartments we finance are homes to millions of workers who
comprise the backbone of this nation," added Kaufman. "We're all in
this together, and if we all come together to help, we can make a
notable difference with an eye towards the future and a recovery
from this unprecedented health crisis."
For more information, please visit arap.arbor.com.
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, seniors housing, healthcare and other diverse
commercial real estate assets. Headquartered in Uniondale, New York, Arbor manages a
multibillion-dollar servicing portfolio, specializing in
government-sponsored enterprise products. Arbor is a Fannie Mae
DUS® lender and Freddie Mac Optigo Seller/Servicer.
Arbor's product platform also includes CMBS, bridge, 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.
Contact: Bonnie Habyan
SOURCE Arbor Realty Trust, Inc.