Arbor Realty Trust’s Private Label Mortgage Lender Closes $727 Million Multifamily Mortgage Loan Securitization
May 29 2020 - 4:10PM
Arbor Realty Trust, Inc. (NYSE:ABR) today announced the closing of
a private label multifamily mortgage loan securitization totaling
approximately $727 million (the “
Securitization”).
Arbor Private Label, LLC, originated the mortgage loans and was the
loan seller and sponsor for the Securitization. The
Securitization is the first for Arbor’s new private label
multifamily mortgage loan securitization program.
The Securitization is backed by a pool of 40
fixed rate, 10-year mortgage loans secured by first priority
mortgage liens on 49 multifamily properties. Arbor’s
servicing and asset management affiliate, Arbor Multifamily
Lending, LLC, will be the primary servicer of the mortgage
loans.
Beneficial ownership interests in the
Securitization trust are represented by a series of multifamily
mortgage pass-through certificates (the
“Certificates”). The Certificates were
issued under a pooling and servicing agreement, which will govern
the servicing and administration of the mortgage loans. An
Arbor affiliate will retain the most subordinate class of
Certificates, with a balance of approximately $63.6 million (the
“Retained Certificates”), in satisfaction of
credit risk retention requirements.
All of the Certificates (other than the Retained
Certificates and residual interest) were assigned investment grade
ratings by Fitch Ratings, Inc. and DBRS, Inc.
The offering of the Certificates was made
pursuant to a private placement. The Certificates 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, seniors
housing, healthcare 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 Fannie Mae
DUS® lender and Freddie Mac Optigo Seller/Servicer. Arbor’s product
platform also includes CMBS, bridge, mezzanine and preferred equity
lending. 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, 2019 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:Arbor Realty Trust, Inc.Paul Elenio, Chief Financial
Officer 516-506-4422 pelenio@arbor.com |
Investors:The Ruth GroupAlexander
Lobo646-536-7037alobo@theruthgroup.com |
Media:Bonnie HabyanChief Marketing Officer516-506-4615
bhabyan@arbor.com |
Arbor Realty (NYSE:ABR)
Historical Stock Chart
From Aug 2024 to Sep 2024
Arbor Realty (NYSE:ABR)
Historical Stock Chart
From Sep 2023 to Sep 2024