Arbor Realty Trust, Inc. Announces Redemptions of Outstanding Cumulative Redeemable Preferred Stock

Rhea-AI Summary

Arbor Realty Trust, Inc. (NYSE:ABR) announced the redemption of all outstanding shares of its preferred stock, including 1,551,500 shares of Series A (8.250%), 1,260,000 shares of Series B (7.75%), and 900,000 shares of Series C (8.50%). The redemption price is set at $25.00 per share plus any accumulated unpaid dividends, effective on June 24, 2021. Notices detailing the redemption procedures were sent to shareholders on May 25, 2021. Arbor Realty Trust operates as a real estate investment trust, providing loan origination and servicing across various commercial real estate sectors.

Positive

• Redeeming preferred shares may strengthen the company's capital structure.
• Clear communication with shareholders regarding redemption procedures enhances transparency.

Negative

• The redemption of preferred shares may indicate a potential shift in capital strategy, impacting future financing.
• Accumulated unpaid dividends imply previous financial pressures.

UNIONDALE, N.Y., May 26, 2021 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the “Company”) (NYSE:ABR) announced today that it will redeem all of the outstanding (i) 1,551,500 shares of its 8.250% Series A Cumulative Redeemable Preferred Stock (the “Series A Preferred Stock”), (ii) 1,260,000 shares of its 7.75% Series B Cumulative Redeemable Preferred Stock (the “Series B Preferred Stock”), and (iii) 900,000 shares of its 8.50% Series C Cumulative Redeemable Preferred Stock (the “Series C Preferred Stock” and, together with the Series A Preferred Stock and the Series B Preferred Stock, the “Outstanding Preferred Stock”), at redemption prices equal to $25.00 per share of Outstanding Preferred Stock, plus any accumulated and unpaid dividends thereon to, but not including, June 24, 2021 (the “Redemption Date”). The Series A Preferred Stock, the Series B Preferred Stock and the Series C Preferred Stock trade under ticker symbols “ABR PA,” “ABR PB” and “ABR PC,” respectively.

Notices of Redemption for each series of Outstanding Preferred Stock, describing the redemption procedures, were sent to holders of each series of Outstanding Preferred Stock on May 25, 2021. Additional information related to the procedures for the redemptions, including copies of the Notices of Redemption may be obtained from American Stock Transfer & Trust Company, LLC by calling (877) 248-6417 or by emailing help@astfinancial.com.

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.

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. The Company can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, market conditions, 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 the the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 and its other reports filed with the Securities and Exchange Commission. Such forward-looking statements speak only as of the date of this press release. The Company 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 the Company’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	Investors: The Ruth Group Daniel Kontoh-Boateng/James Salierno 646-536-7019/7028 dboateng@theruthgroup.com jsalierno@theruthgroup.com

FAQ

What is the redemption date for Arbor Realty Trust's preferred stock?

The redemption date is June 24, 2021.

How many shares of Series A Preferred Stock is Arbor Realty Trust redeeming?

Arbor Realty Trust is redeeming 1,551,500 shares of Series A Preferred Stock.

What are the prices for the redeemed preferred stocks of ABR?

Each class of preferred stock is being redeemed at $25.00 per share plus accumulated unpaid dividends.

When were the Notices of Redemption sent to shareholders?

Notices of Redemption were sent on May 25, 2021.