<SEC-DOCUMENT>0001104659-20-031994.txt : 20200311
<SEC-HEADER>0001104659-20-031994.hdr.sgml : 20200311
<ACCEPTANCE-DATETIME>20200311170459
ACCESSION NUMBER:		0001104659-20-031994
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200311
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200311
DATE AS OF CHANGE:		20200311

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARBOR REALTY TRUST INC
		CENTRAL INDEX KEY:			0001253986
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				200057959
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32136
		FILM NUMBER:		20706058

	BUSINESS ADDRESS:	
		STREET 1:		333 EARLE OVINGTON BOULEVARD
		STREET 2:		SUITE 900
		CITY:			UNIONDALE
		STATE:			NY
		ZIP:			11553
		BUSINESS PHONE:		516-506-4200

	MAIL ADDRESS:	
		STREET 1:		333 EARLE OVINGTON BLVD STE.900
		CITY:			UNIONDALE
		STATE:			NY
		ZIP:			11553
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2012449d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">March 11, 2020 (March 11, 2020)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Arbor Realty Trust, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(EXACT NAME OF REGISTRANT AS SPECIFIED IN
ITS CHARTER)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MARYLAND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(STATE OF INCORPORATION)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
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    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">001-32136</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">20-0057959</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(COMMISSION FILE NUMBER)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt; text-align: center">(IRS EMPLOYER ID. NUMBER)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">333 Earle Ovington Boulevard, Suite 900</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11553</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Uniondale, New York</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ZIP CODE)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(516) 506-4200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(REGISTRANT&rsquo;S TELEPHONE NUMBER, INCLUDING
AREA CODE)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule&nbsp;405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule&nbsp;12b-2 of
the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a)&nbsp;of the Exchange Act.
</FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section 12(b) of the Act:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Title of each class</U></B></FONT></TD>
    <TD STYLE="width: 32%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Trading symbols</U></B></FONT></TD>
    <TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Name of each exchange on which registered</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock, par value $0.01 per share</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABR</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New York Stock Exchange</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preferred Stock, 8.25% Series A Cumulative Redeemable, par value $0.01 per share</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABR-PA</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New York Stock Exchange</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preferred Stock, 7.75% Series B Cumulative Redeemable, par value $0.01 per share</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABR-PB</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New York Stock Exchange</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preferred Stock, 8.50% Series C Cumulative Redeemable, par value $0.01 per share</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ABR-PC</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New York Stock Exchange</B></FONT></TD></TR>
</TABLE>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 1.01</B></TD><TD><B>Entry into a Material Definitive Agreement.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 11, 2020, Arbor Realty Trust, Inc.
(&ldquo;Arbor&rdquo;) announced that two of its consolidated subsidiaries, Arbor Realty Commercial Real Estate Notes 2020-FL1,
Ltd. (the &ldquo;Issuer&rdquo;) and Arbor Realty Commercial Real Estate Notes 2020-FL1, LLC (the &ldquo;Co-Issuer&rdquo; and together
with the Issuer, the &ldquo;Co-Issuers&rdquo;) issued $668,000,000 principal amount of investment grade-rated notes (the &ldquo;Offered
Notes&rdquo;) and $70,000,000 principal amount of below investment grade-rated notes (collectively with the Offered Notes, the
 &ldquo;Notes,&rdquo;) evidencing a commercial real estate mortgage securitization (the &ldquo;Securitization&rdquo;), and sold
such Notes in a private placement. Simultaneously with the issuance of the Notes: (1) the Issuer issued and sold preferred shares
(&ldquo;the Preferred Shares&rdquo;) with a notional amount of $62,000,000 to a consolidated subsidiary of Arbor, and (2) the $70,000,000
of below investment grade-rated notes were purchased by a consolidated subsidiary of Arbor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes were issued pursuant to an indenture,
dated as of March 11, 2020. The information contained in Item 2.03 of this Form 8-K regarding the terms of the indenture and the
Notes is incorporated by reference into this Item 1.01.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes have not been registered under
the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), or any state securities laws, and unless so registered,
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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The net proceeds of the sale of the Notes
will be used to repay borrowings under Arbor&rsquo;s current credit facilities, pay transaction expenses and fund future loans
and investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 2.03</B></TD><TD><B>Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The aggregate principal amounts of the following
eight classes of Notes (each, a &ldquo;Class&rdquo;) were issued pursuant to the terms of an indenture, dated as of March 11, 2020
(the &ldquo;Indenture&rdquo;) by and among the Co-Issuers, Arbor Realty SR, Inc., as advancing agent, Wilmington Trust, National
Association, as trustee and Wells Fargo Bank, National Association, as note administrator, custodian, paying agent, calculation
agent, transfer agent, securities intermediary, backup advancing agent, designated transaction representative and notes registrar:
(1) $416,000,000 aggregate principal amount of Class A Senior Secured Floating Rate Notes; (2) $90,000,000 aggregate principal
amount of Class A-S Senior Secured Floating Rate Notes; (3) $39,000,000 aggregate principal amount of Class B Secured Floating
Rate Notes; (4) $49,000,000 aggregate principal amount of Class C Secured Floating Rate Notes; (5) $37,000,000 aggregate principal
amount of Class D Secured Floating Rate Notes; (6) $37,000,000 aggregate principal amount of Class E Secured Floating Rate Notes;
(7) $45,000,000 aggregate principal amount of Class F Floating Rate Notes; and (8) $25,000,000 aggregate principal amount of Class
G Floating Rate Notes. Simultaneously with the issuance of the Notes, the Issuer also issued and sold Preferred Shares with a notional
amount of $62,000,000 to a consolidated subsidiary of Arbor and the Class F and G Floating Rate Notes were purchased by a consolidated
subsidiary of Arbor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As of March 11, 2020 (the &ldquo;Closing
Date&rdquo;), the Notes are secured by a portfolio of real estate related assets and cash with a face value of approximately $800,000,000,
with real estate related assets consisting primarily of first-lien mortgage bridge loans. Through its ownership of the equity of
the Issuer, Arbor intends to own the portfolio of mortgage assets until its maturity and will account for the issuance of the Offered
Notes on its balance sheet as a financing. The financing has an approximate three-year replacement period that allows the principal
proceeds and sale proceeds (if any) of the mortgage assets to be reinvested in qualifying replacement mortgage assets, subject
to the satisfaction of certain conditions set forth in the Indenture. The proceeds of the issuance of the securities also includes
$159,476,568 for the purpose of acquiring additional mortgage assets for a period of up to 180 days from the Closing Date, at which
point it is expected that the Issuer will own mortgage assets with a face value of approximately $800,000,000. If the Issuer is
unable to invest any additional financing capacity in suitable mortgage assets within 180 days of the Closing Date, remaining cash
and cash equivalents will be used to redeem the Notes in order of seniority pursuant to the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The mortgage assets acquired on the Closing
Date were purchased by the Issuer from a consolidated subsidiary of Arbor, and the seller made certain representations and warranties
to the Issuer with respect to the mortgage assets it sold. If any such representations or warranties are materially inaccurate,
the Issuer may compel the seller to repurchase the affected mortgage assets from it for an amount not exceeding par plus accrued
interest and certain additional charges, if then applicable. Additional mortgage assets and replacement mortgage assets are expected
to be purchased on similar terms, pursuant to the requirements set forth in the Indenture.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Issuer entered into a Collateral Management
Agreement with Arbor Realty Collateral Management, LLC, a consolidated subsidiary of Arbor (the &ldquo;Collateral Manager&rdquo;)
pursuant to which the Collateral Manager has agreed to advise the Issuer on certain matters regarding the mortgage assets and other
eligible investments securing the Notes. The Collateral Manager has waived its right to receive a management fee for the services
rendered under the Collateral Management Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Issuer, the Collateral Manager and the
trustee entered into a Servicing Agreement with Arbor Multifamily Lending, LLC, a wholly owned subsidiary of Arbor (the &ldquo;Servicer&rdquo;)
pursuant to which the Servicer has agreed to act as the servicer and special servicer for the mortgage assets. In connection with
its duties under the Servicing Agreement, the Servicer has waived its right to servicing and special servicing fees but will be
entitled to reimbursement of certain costs and expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes represent non-recourse obligations
of the Issuer payable solely from the mortgage assets and certain other assets pledged under the Indenture. To the extent the mortgage
assets and other pledged assets are insufficient to make payments in respect of the Notes, neither of the Co-Issuers will have
any obligation to pay any further amounts in respect of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Offered Notes have an initial weighted
average interest rate of approximately 1.41% plus one-month LIBOR. Interest payments on the Notes are payable monthly, beginning
on April 15, 2020, to and including February 15, 2035, the stated maturity date of the Notes. As advancing agent under the Indenture,
Arbor Realty SR, Inc., a consolidated subsidiary of Arbor, may be required to advance interest payments due on the Notes on the
terms and subject to the conditions set forth in the Indenture. Arbor Realty SR, Inc. is entitled to receive a fee, payable on
a quarterly basis in accordance with the priority of payments set forth in the Indenture, equal to 0.07% per annum on the aggregate
outstanding principal amount of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each Class of Notes will mature at par on
February 15, 2035, unless redeemed or repaid prior thereto. Principal payments on each Class of Notes will be paid at the stated
maturity in accordance with the priority of payments set forth in the Indenture. However, it is anticipated that the Notes will
be paid in advance of the stated maturity date in accordance with the priority of payments set forth in the Indenture. The weighted
average life of the Notes is currently expected to be between 4.14 years and 4.95 years. The calculation of the weighted average
lives of the Notes assumes certain collateral characteristics including that there are no prepayments, defaults, extensions or
delinquencies. There is no assurance that such assumptions will be met.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In general, payments of principal and interest
(including any defaulted interest amount) on the Class A Notes will be senior to all payments of principal and interest on the
Class A-S, B, C, D, E, F and G Notes; payments of principal and interest (including any defaulted interest amount) on the Class
A-S Notes will be senior to all payments of principal and interest on the Class B, C, D, E, F and G Notes; payments of principal
and interest (including any defaulted interest amount) on the Class B Notes will be senior to all payments of principal and interest
on the Class C, D, E, F and G Notes; payments of principal and interest (including any defaulted interest amount) on the Class
C Notes will be senior to all payments of principal and interest on the Class D, E, F and G Notes; payments of principal and interest
(including any defaulted interest amount) on the Class D Notes will be senior to all payments of principal and interest on the
Class E, F and G Notes; payments of principal and interest (including any defaulted interest amount) on the Class E Notes will
be senior to all payments of principal and interest on the Class F and G Notes; and payments of principal and interest (including
any defaulted interest amount or deferred interest amount) on the Class F Notes will be senior to all payments of principal and
interest on the Class G Notes. Payments on the Notes will be senior to dividends and all other distributions in respect of the
preferred shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes are subject to a clean-up call
redemption (at the option of and at the direction of the Collateral Manager), in whole but not in part, on any interest payment
date on which the aggregate outstanding principal amount of the Notes has been reduced to 10% or less of the aggregate outstanding
principal amount of the Offered Notes outstanding on the issuance date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Subject to certain conditions described
in the Indenture, on September 15, 2022, and on any interest payment date thereafter, the Issuer may redeem the Notes and the Preferred
Shares at the direction of the holders of a majority of the Preferred Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notes are also subject to a mandatory
redemption on any interest payment date on which certain note protection tests set forth in the Indenture are not satisfied and
following the end of the 180-day period for acquisition of additional assets if the ratings assigned to the Notes as of the Closing
Date are downgraded or withdrawn. Any mandatory redemption of the Notes is to be paid from interest and principal proceeds of the
mortgage assets in accordance with the priority of payments set forth in the Indenture, until the applicable note protection tests
are satisfied or the applicable ratings are reinstated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If certain events occur that would make
the Issuer subject to paying U.S. income taxes or would make certain payments to or from the Issuer subject to withholding tax,
then the holders of a majority of the Preferred Shareholders may require that the Issuer prepay all of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Arbor Realty SR, Inc. has agreed to comply
with the retention requirements of Regulation RR under the Securities Exchange Act of 1934, as amended, by causing a &ldquo;majority-owned
affiliate&rdquo; (as defined in Regulation RR) to retain Preferred Shares in an amount equal to not less than 5% of the fair value
of the Notes and Preferred Shares as of the Closing Date. However, if Regulation RR is modified or repealed, Arbor Realty SR, Inc.
may choose to comply with Regulation RR as is then in effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The redemption price for each Class of Notes
is generally the aggregate outstanding principal amount of such Class, plus accrued and unpaid interest (including any defaulted
interest amounts and deferred interest amounts, as applicable).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In addition to standard events of default,
the Indenture also contains the following events of default: (1) the requirement of the Issuer, Co-Issuer or pool of assets securing
the Notes to register as an investment company under the Investment Company Act of 1940, as amended, and (2) the loss of the Issuer&rsquo;s
status as a qualified REIT subsidiary or other disregarded entity of Arbor Realty SR, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 7.01</B></TD><TD><B>Regulation FD Disclosure.</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 11, 2020, the Company issued a
press release announcing the closing of the commercial real estate mortgage securitization disclosed in Items 1.01 and 2.03 of
this Form 8-K, a copy of which is furnished as Exhibit 99.1 hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in"><B>Item 9.01</B></TD><TD><B>Financial Statements and Exhibits. </B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <I>Exhibits</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><I>&nbsp;</I></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 16%; border-bottom: black 1pt solid; padding-right: 0.8pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit&nbsp;Number</B></FONT></TD>
    <TD STYLE="width: 1%; padding-right: 0.8pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 83%; border-bottom: black 1pt solid; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><A HREF="tm2012449d1_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt"><A HREF="tm2012449d1_ex99-1.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press release, dated March 11, 2020.</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><U>Exhibit Number</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: center"><A HREF="tm2012449d1_ex99-1.htm">99.1</A></TD><TD STYLE="text-align: justify"><A HREF="tm2012449d1_ex99-1.htm">Press release, dated March 11, 2020.</A></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 3in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"></TD><TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">ARBOR REALTY TRUST, INC.</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; text-align: right">&nbsp;</TD><TD STYLE="width: 6%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 44%; text-align: left; padding-bottom: 1pt">/s/ Paul Elenio</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Name:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Paul Elenio</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Title:</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Chief Financial Officer</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: March 11, 2020</P>



<P STYLE="margin: 0">&nbsp;</P>

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<TYPE>EX-99.1
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<FILENAME>tm2012449d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="text-align: right; margin: 0"></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EXHIBIT 99.1</B></P>



<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;<IMG SRC="tm2012449d1_img001.jpg" ALT=""></P>

<P STYLE="text-align: right; margin: 0"><B></B></P>

<P STYLE="text-align: right; margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Arbor Realty Trust Closes an $800 Million
Collateralized Securitization Vehicle</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Uniondale, NY, March 11, 2020 -- Arbor
Realty Trust, Inc. (NYSE: ABR), today announced the closing of an $800 million commercial real estate mortgage securitization (the
 &ldquo;Securitization&rdquo;). This is Arbor&rsquo;s thirteenth collateralized securitization vehicle. An aggregate of $668 million
of investment grade-rated notes were issued (the &ldquo;Notes&rdquo;) and Arbor retained subordinate interests in the issuing vehicle
of $132 million. The $800 million of collateral includes approximately $160 million of additional capacity to acquire additional
loans for a period of up to 180 days from the closing date of the Securitization.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<DIV STYLE="padding: 1pt 0in 0in; border: white 1pt solid">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Notes have an initial weighted average spread of approximately 141 basis points over one-month LIBOR, excluding fees and transaction
costs. </FONT>The facility has a three-year replenishment period that allows the principal proceeds from repayments of the portfolio
assets to be reinvested in qualifying replacement assets, subject to certain conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The offering of the Notes was made pursuant
to a private placement. The Notes were issued under an indenture and are secured initially by a portfolio of real estate related
assets and cash with a face value of $800 million, with such real estate related assets consisting primarily of first mortgage
bridge loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Arbor intends to own the portfolio of real
estate related assets through the vehicle until its maturity and expects to account for the Securitization on its balance sheet
as a financing. Arbor will use the proceeds of this Securitization to repay borrowings under its current credit facilities, pay
transaction expenses and to fund future loans and investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain of the Notes were rated by Moody's
Investors Service, Inc. and all of the Notes were rated by DBRS, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Notes are not registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the United States absent an applicable exemption from registration
requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there
be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of such state or jurisdiction.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>About Arbor Realty Trust, Inc.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Arbor
Realty Trust, Inc.</U></FONT> (NYSE: <U>ABR</U>) 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 <U>Fannie Mae DUS&reg;</U> lender and <U>Freddie Mac Optigo</U> Seller/Servicer. Arbor&rsquo;s product platform also
includes <U>CMBS</U>, <U>bridge</U>, <U>mezzanine and preferred equity</U> lending. Rated by Standard and Poor&rsquo;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Safe Harbor Statement</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Certain items in this press release may constitute forward-looking
statements within the meaning of the &ldquo;safe harbor&rdquo; provisions of the Private Securities Litigation Reform Act of 1995.
These statements are based on management&rsquo;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&rsquo;s
expectations include, but are not limited to, continued ability to source new investments, changes in interest rates and/or credit
spreads, changes in the real estate markets, and other risks detailed in Arbor&rsquo;s Annual Report on Form 10-K for the year
ended December 31, 2019 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&rsquo;s expectations with regard thereto or change in
events, conditions, or circumstances on which any such statement is based.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>Contacts:</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Arbor Realty Trust, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Paul Elenio, Chief Financial Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">516-506-4422</P>
<DIV STYLE="border: white 1pt solid; padding: 0in">

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.25in; text-align: justify; text-indent: 0.25in"><U>pelenio@arbor.com</U></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
</DIV></TD>
    <TD STYLE="width: 50%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Investors:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Ruth Group</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Alexander Lobo</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">646-536-7037</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>alobo@theruthgroup.com</U></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
<DIV STYLE="padding: 0in; border: white 1pt solid">

        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Media:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bonnie Habyan, Chief Marketing Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">516-506-4615</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>bhabyan@arbor.com</U></P></DIV>
<DIV STYLE="border: white 1pt solid; padding: 0in"></DIV></TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
