XML 30 R17.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Investments in Equity Affiliates | 9 Months Ended
--- | ---
Sep. 30, 2017
Investments in Equity Affiliates |
Investments in Equity Affiliates | Note 9 — Investments in Equity Affiliates We account for all investments in equity affiliates under the equity method. The following is a summary of our investments in equity affiliates:
|  | Investments in Equity Affiliates at |  | UPB of Loans to Equity Affiliates at |
Equity Affiliates |  | September 30, 2017 |  | December 31, 2016 |  | September 30, 2017 |
Arbor Residential Investor LLC |  | $ | 26,821,643 |  | $ | 28,917,457 |  | $ | — |
West Shore Café |  | 2,120,347 |  | 2,050,347 |  | 1,687,500 |
Lightstone Value Plus REIT L.P. |  | 1,894,727 |  | 1,894,727 |  | — |
JT Prime |  | 425,000 |  | 425,000 |  | — |
East River Portfolio |  | 68,923 |  | 83,222 |  | 1,705,938 |
Lexford Portfolio |  | 100 |  | 100 |  | — |
Issuers of Junior Subordinated Notes |  | — |  | 578,000 |  | — |
Total |  | $ | 31,330,740 |  | $ | 33,948,853 |  | $ | 3,393,438 |
Arbor Residential Investor LLC (“ARI”). During the three and nine months ended September 30, 2017, we recorded a loss of $1.3 million and $1.9 million, respectively, and during the three and nine months ended September 30, 2016, we recorded income of $3.9 million and $8.5 million, respectively, to income from equity affiliates in our consolidated statements of income related to our investment in this residential mortgage banking business. During the nine months ended September 30, 2017, we funded $0.6 million of additional mortgage purchases in connection with a joint venture that invests in non-qualified residential mortgages purchased from ARI’s origination platform. During the nine months ended September 30, 2017, we received cash distributions from this joint venture totaling $0.9 million (which were classified as a return of capital). During the three and nine months ended September 30, 2017 we recorded income of less than $0.1 million and $0.1 million, respectively, and during the three and nine months ended September 30, 2016, we recorded income of $0.3 million and $0.4 million, respectively, to income from equity affiliates in our consolidated statements of income related to this investment. The summarized statements of operations for our investment in ARI are as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |
Statements of Operations: |  |  |  |  |  |  |  |  |
Total revenues |  | $ | 32,429,382 |  | $ | 71,040,665 |  | $ | 108,195,846 |  | $ | 172,929,878 |
Total expenses |  | 40,214,486 |  | 47,256,537 |  | 120,232,132 |  | 128,120,821 |
Net (loss) income |  | $ | (7,785,104 | ) | $ | 23,784,128 |  | $ | (12,036,286 | ) | $ | 44,809,057 |
Arbor’s share of (loss) income |  | $ | (1,230,905 | ) | $ | 4,167,233 |  | $ | (1,844,144 | ) | $ | 8,885,528 |
Lexford Portfolio. In the three and nine months ended September 30, 2017, we received distributions of $0.7 million and $2.0 million, respectively, and in the three and nine months ended September 30, 2016, we received distributions of $0.7 million and $2.1 million, respectively, from this equity investment which was recognized as income. See Note 19 — Agreements and Transactions with Related Parties for details. Issuers of Junior Subordinated Notes. In the first quarter of 2017, we purchased, at a discount, a portion of our junior subordinated notes. In connection with this extinguishment of debt, we settled our investment in these affiliated entities. See Note 11 — Debt Obligations for details. Equity Participation Interest. In the third quarter of 2017, we received $1.5 million from the redemption of a 25% equity participation interest we held in a multifamily property, which is included in income from equity affiliates on the consolidated statements of income. Prior to this transaction, our basis in this investment was zero.

X
- References No definition available. + Details
Name: | abr_InvestmentInEquityAffiliatesDisclosureAbstract
Namespace Prefix: | abr_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for cost method and equity method investments included basis, impairment losses, recognized or unrecognized gains (losses). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2197087 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
Name: | us-gaap_CostAndEquityMethodInvestmentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration