Arbor Realty Trust,Inc. (NYSE:ABR) Files An 8-K Other Events
Item 8.01 Other Information
On May9, 2017, Arbor Realty Trust,Inc., a Maryland corporation
(the Company), Arbor Realty Limited Partnership, a Delaware
limited partnership (the Partnership), Arbor Realty SR,Inc., a
Maryland corporation (ARSR) and Arbor Commercial Mortgage,LLC, a
New York limited liability company (ACM) entered into Amendment
No.1 (the Amendment) to the Option Agreement, dated as of July14,
2016 (the Option Agreement and, together with the Amendment, the
Amended Option Agreement), by and among the Company, the
Partnership, ARSR and ACM to provide that the exercise price for
the option provided therein (the Option) be payable to ACM in
cash, rather than through a combination of cash and common units
of the Partnership and to provide for an option closing date of
May31, 2017 (the Option Closing).
On May9, 2017, in accordance with the terms of the Amended Option
Agreement, the Partnership provided written notice to ACM of its
intent to exercise the Option and fully internalize its
management. to the Amended Option Agreement, the Company will pay
ACM $25,000,000 plus certain accrued and unpaid compensation and
reimbursable expenses to which ACM is entitled under the
Management Agreement.
The foregoing description of the Amendment does not purport to be
complete and is qualified in its entirety by reference to the
full text of the Amendment, which is filed as Exhibit1.1 to this
report, and is incorporated herein by reference.
Item 9.01 Financial Statements and
Exhibits
(d) Exhibits
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ExhibitNumber |
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Exhibit |
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1.1 |
Amendment No.1 to the Option Agreement, dated as of May9, |
About Arbor Realty Trust, Inc. (NYSE:ABR)
Arbor Realty Trust, Inc. is a real estate investment trust. The Company invests in a portfolio of structured finance assets in the multifamily and commercial real estate markets, primarily consisting of bridge and mezzanine loans, including junior participating interests in first mortgages, preferred and direct equity. Its segments include Structured Business and Agency Business. In addition, the Company may also directly acquire real property and invest in real estate-related notes and certain mortgage-related securities. It focuses on investment types, such as Bridge Financing, Mezzanine Financing, Junior Participation Financing and Preferred Equity Investments. It offers bridge financing products to borrowers, typically seeking short-term capital to use in an acquisition of property. It offers mezzanine financing in the form of loans that are subordinate to a conventional first mortgage loan and senior to the borrower’s equity in a transaction. Arbor Realty Trust, Inc. (NYSE:ABR) Recent Trading Information
Arbor Realty Trust, Inc. (NYSE:ABR) closed its last trading session up +0.04 at 8.74 with 534,984 shares trading hands.