Arbor Realty SR, Inc. Closes Offering of $100 Million of Senior Notes due 2027
Arbor Realty Trust, Inc. (NYSE:ABR) announced that its subsidiary, Arbor Realty SR, Inc., has closed a private placement of $100 million aggregate principal amount of 9.00% senior notes due October 15, 2027. The notes will be fully guaranteed by Arbor Realty Trust on a senior unsecured basis. The company plans to use the net proceeds to pay down debt and for general corporate purposes.
Piper Sandler & Co. acted as the sole placement agent for this offering. The notes have not been registered under the Securities Act of 1933 and are being offered and sold under an exemption from registration. Arbor Realty Trust is a nationwide real estate investment trust and direct lender, specializing in loan origination and servicing for multifamily, single-family rental portfolios, and other diverse commercial real estate assets.
Arbor Realty Trust, Inc. (NYSE:ABR) ha annunciato che la sua controllata, Arbor Realty SR, Inc., ha concluso un collocamento privato di 100 milioni di dollari di note senior con un tasso del 9,00%, in scadenza il 15 ottobre 2027. Le note saranno totalmente garantite da Arbor Realty Trust su base senior non garantita. L'azienda intende utilizzare il ricavato netto per ridurre il debito e per scopi aziendali generali.
Piper Sandler & Co. ha agito come unico agente di collocamento per questa offerta. Le note non sono state registrate ai sensi del Securities Act del 1933 e sono offerte e vendute in base a un'esenzione dalla registrazione. Arbor Realty Trust è un fondo di investimento immobiliare attivo a livello nazionale e un prestatore diretto, specializzato nell'origination e nel servizio di prestiti per portafogli multifamiliari, immobili a uso residenziale singolo e altri asset immobiliari commerciali diversificati.
Arbor Realty Trust, Inc. (NYSE:ABR) anunció que su subsidiaria, Arbor Realty SR, Inc., ha cerrado un colocación privada de 100 millones de dólares en notas senior del 9,00% con vencimiento el 15 de octubre de 2027. Las notas estarán completamente garantizadas por Arbor Realty Trust a nivel senior no garantizado. La compañía planea utilizar los ingresos netos para pagar deudas y para fines corporativos generales.
Piper Sandler & Co. actuó como el único agente de colocación para esta oferta. Las notas no han sido registradas bajo la Ley de Valores de 1933 y se están ofreciendo y vendiendo bajo una exención de registro. Arbor Realty Trust es un fideicomiso de inversión inmobiliaria a nivel nacional y prestamista directo, especializado en la originación y servicio de préstamos para carteras de alquiler multifamiliares, unifamiliares y otros activos comerciales inmobiliarios diversos.
Arbor Realty Trust, Inc. (NYSE:ABR)가 자회사인 Arbor Realty SR, Inc.가 1억 달러 기명 전환채권을 공개적으로 배치하고 9.00%의 금리를 연 15% 보장하기로 했다. 2027년 10월 15일 만기. 이 노트는 Arbor Realty Trust에 의해 완전 보증됩니다. 회사는 순 수익을 활용하여 부채를 상환하고 일반 기업 목적에 사용할 것이라고 합니다.
Piper Sandler & Co.는 이 거래의 유일한 배치 대리인으로 활동했습니다. 이 노트는 1933년 증권법에 따라 등록되지 않았으며 등록 면제에 따라 제공 및 판매되고 있습니다. Arbor Realty Trust는 다가구, 단독 주택 임대 포트폴리오 및 기타 다양한 상업용 부동산 자산을 위한 대출 원금 및 서비스 전문 전국 부동산 투자 신탁 및 직접 대출 기관입니다.
Arbor Realty Trust, Inc. (NYSE:ABR) a annoncé que sa filiale, Arbor Realty SR, Inc., a clôturé un placement privé d'un montant principal total de 100 millions de dollars de billets senior à 9,00%, arrivant à échéance le 15 octobre 2027. Les billets seront entièrement garantis par Arbor Realty Trust sur une base senior non sécurisée. La société prévoit d'utiliser le produit net pour rembourser des dettes et pour des fins d'entreprise générales.
Piper Sandler & Co. a agi en tant qu'agent unique de placement pour cette offre. Les billets n'ont pas été enregistrés en vertu de la Securities Act de 1933 et sont offerts et vendus en vertu d'une exemption d'enregistrement. Arbor Realty Trust est un fonds de placement immobilier actif à l'échelle nationale et un prêteur direct, spécialisé dans l'origine et le service des prêts pour des portefeuilles de locations multifamiliales, unifamiliales et d'autres actifs immobiliers commerciaux divers.
Arbor Realty Trust, Inc. (NYSE:ABR) gab bekannt, dass ihre Tochtergesellschaft, Arbor Realty SR, Inc., eine private Platzierung von 100 Millionen US-Dollar an vorrangigen Anleihen mit 9,00% fällig am 15. Oktober 2027 abgeschlossen hat. Die Anleihen werden von Arbor Realty Trust auf unbesicherter vorrangiger Basis vollständig garantiert. Das Unternehmen plant, die Nettomittel zu verwenden, um Schulden abzubauen und für allgemeine Unternehmenszwecke.
Piper Sandler & Co. fungierte als einziger Platzierungsagent für dieses Angebot. Die Anleihen wurden nicht gemäß dem Securities Act von 1933 registriert und werden im Rahmen einer Ausnahmeregelung aus der Registrierung angeboten und verkauft. Arbor Realty Trust ist ein landesweit tätiger Immobilieninvestmentfonds und Direktdarlehensgeber, der sich auf die Kreditvergabe und -verwaltung für Mehrfamilien-, Einfamilien- und andere vielfältige gewerbliche Immobilienvermögen spezialisiert hat.
- Raised $100 million through senior notes offering
- Plans to use proceeds to pay down debt, potentially improving financial position
- 9.00% interest rate on senior notes, providing fixed-rate financing
- Increased debt obligation with new $100 million senior notes
- Higher interest expense due to 9.00% rate on new notes
Insights
Arbor Realty Trust's subsidiary's successful placement of
The stated use of proceeds to "pay down debt and for general corporate purposes" suggests a strategic refinancing effort. This could potentially lead to improved financial flexibility and a more optimized capital structure. However, investors should note that while this may extend debt maturities, it also increases the company's interest expenses given the relatively high yield.
Arbor's diverse portfolio and its status as a leading lender in government-sponsored enterprise products provide a solid backdrop for this debt issuance. The private placement nature of the offering allows for quicker execution but limits the investor base. Overall, this move demonstrates Arbor's continued access to capital markets, which is important for a REIT's growth and operations.
This debt issuance by Arbor Realty Trust's subsidiary is indicative of the current state of the real estate finance market. The 9.00% yield on these notes is notably high, reflecting both the broader interest rate environment and possibly the market's assessment of risks associated with commercial real estate lending.
Arbor's focus on multifamily, single-family rental portfolios and diverse commercial real estate assets positions it well in the current market. The company's role as a leading Fannie Mae DUS® lender and Freddie Mac Optigo® Seller/Servicer provides a stable business foundation. However, the high-yield debt issuance suggests that the company may be facing some pressure in its operating environment or seeing opportunities that require additional capital.
Investors should monitor how effectively Arbor deploys this capital, particularly if it's used for new loan originations. The success of this strategy will depend on Arbor's ability to generate returns that exceed the
UNIONDALE, N.Y., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the “Parent” or “Arbor”) (NYSE:ABR) announced today that its subsidiary, Arbor Realty SR, Inc. (the “Company”), has closed the private placement of
The Company expects that the net proceeds of this offering will be used to pay down debt and for general corporate purposes.
Piper Sandler & Co. acted as sole placement agent for this offering.
The Notes have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and are being offered and sold in reliance on an exemption from registration provided by Section 4(a)(2) of the Securities Act. The Notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.
This press release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.
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 and 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, 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, 2023 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
516-506-4422
pelenio@arbor.com
FAQ
What is the interest rate and maturity date of Arbor Realty Trust's (ABR) new senior notes?
How much did Arbor Realty Trust (ABR) raise in its recent senior notes offering?
What will Arbor Realty Trust (ABR) use the proceeds from the senior notes offering for?
Who acted as the placement agent for Arbor Realty Trust's (ABR) senior notes offering?
