Arbor Private Label Mortgage Lender Closes $ 450 Million
UNIONDALE, NY, June 25, 2021 (GLOBE NEWSWIRE) – Arbor Realty Trust, Inc. (“arbor(NYSE: ABR) today announced the completion of a multi-family mortgage loan securitization totaling approximately $ 450 million.Securitization“). Arbor subsidiary, Arbor Private Label, LLC, issued the mortgage loan and was the loan seller and sponsor of the securitization. The securitization is the second for Arbor Private Label’s multi-family mortgage securitization program.
The securitization is backed by a pool of 32 fixed rate mortgage loans secured by priority mortgage liens on 50 apartment buildings. Arbor’s service and asset management subsidiary, Arbor Multifamily Lending, LLC, will be the primary administrator of the mortgage loans.
Beneficial ownership of the securitization trust is ensured through a series of multi-family mortgage pass-through certificates (the “Certificates“). The certificates were issued as part of a pooling and servicing agreement that regulates the servicing and administration of the mortgage loan. An Arbor Affiliate will retain the subclass of allowances with a balance of approximately $ 38.2 million (the “Retained Certificates“) To meet the credit risk retention requirements.
All certificates (with the exception of retained certificates and residual interest) have been given investment grade ratings by Fitch Ratings, Inc. and DBRS, Inc.
The certificates were offered as part of 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 without a corresponding exemption from registration. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will any sale of these securities be made in any state or jurisdiction in which such offer, solicitation or sale is prior to registration or qualification under the securities laws of that 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 lending and servicing for multi-family, single-family rental (SFR) portfolios, and other various commercial real estate investments. Headquartered in New York, Arbor manages a multi-billion dollar service portfolio and specializes in government sponsored business products. Arbor is a Leading Fannie Mae DUS® Lender, Freddie Mac Optigo® Seller / Servicer, and a recognized FHA Multifamily Accelerated Processing (MAP) Lender. Arbor’s product platform also includes Bridge, CMBS, mezzanine and preferred equity lending. Rated by Standard and Poor’s and Fitch Ratings, Arbor strives to build its reputation for service, quality and bespoke solutions with an unparalleled commitment to delivering excellence to our clients throughout the life of a loan.
Safe Harbor Statement
Certain elements 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 cannot guarantee that its expectations will be met. Factors that could cause actual results to differ materially from Arbor’s expectations include, but are not limited to, changes in economic conditions in general and real estate markets in particular, particularly due to the uncertainties created by the COVID-19 pandemic Ability to raise new investments, changes in interest rates and / or credit spreads, and other risks identified in Arbor’s Annual Report on Form 10-K for the year ended December 31, 2020 and in its other SEC filings. Such forward-looking statements speak only as of the date of this press release. Arbor expressly disclaims any obligation or obligation to publicly release any updates or revisions to any forward-looking statements contained herein to reflect changes in Arbor’s expectations thereof or changes in the events, conditions or circumstances on which any such statement is based.