XML 62 R47.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Fair Value (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Principal Amounts, Carrying Values, and Estimated Fair Values of Financial Instruments | The following table summarizes the principal amounts, carrying values and the estimated fair values of our financial instruments (in thousands):
| December 31, 2024 |  | December 31, 2023
| Principal / Notional Amount |  | Carrying Value |  | Estimated Fair Value |  | Principal / Notional Amount |  | Carrying Value |  | Estimated Fair Value
Financial assets: |  |  |  |  |  |  |  |  |  |  |
Loans and investments, net | $ | 11,304,956 |  |  | $ | 11,033,997 |  |  | $ | 11,122,205 |  |  | $ | 12,615,006 |  |  | $ | 12,377,806 |  |  | $ | 12,452,563 |
Loans held-for-sale, net | 438,233 |  |  | 435,759 |  |  | 449,339 |  |  | 552,325 |  |  | 551,707 |  |  | 566,451 |
Capitalized mortgage servicing rights, net | n/a |  | 368,678 |  |  | 511,282 |  |  | n/a |  | 391,254 |  |  | 510,472 |
Securities held-to-maturity, net | 230,012 |  |  | 157,154 |  |  | 144,508 |  |  | 230,495 |  |  | 155,279 |  |  | 129,390 |
Derivative financial instruments | 41,724 |  |  | 95 |  |  | 95 |  |  | 447,609 |  |  | 6,547 |  |  | 6,547 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |
Credit and repurchase facilities | $ | 3,568,361 |  |  | $ | 3,559,490 |  |  | $ | 3,592,120 |  |  | $ | 3,242,939 |  |  | $ | 3,237,827 |  |  | $ | 3,228,324 |
Securitized debt | 4,632,015 |  |  | 4,622,489 |  |  | 4,616,409 |  |  | 6,956,284 |  |  | 6,935,010 |  |  | 6,864,557 |
Senior unsecured notes | 1,245,000 |  |  | 1,236,147 |  |  | 1,160,154 |  |  | 1,345,000 |  |  | 1,333,968 |  |  | 1,214,331 |
Convertible senior unsecured notes | 287,500 |  |  | 285,853 |  |  | 287,500 |  |  | 287,500 |  |  | 283,118 |  |  | 301,156 |
Junior subordinated notes | 154,336 |  |  | 144,686 |  |  | 109,099 |  |  | 154,336 |  |  | 143,896 |  |  | 106,444 |
Mortgage notes payable - real estate owned | 74,897 |  |  | 74,897 |  |  | 74,495 |  |  | 44,339 |  |  | 44,339 |  |  | 44,103 |
Derivative financial instruments | 354,300 |  |  | 4,209 |  |  | 4,209 |  |  | 138,270 |  |  | 1,021 |  |  | 1,021 |
Schedule of Certain Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | The fair values of these financial assets and liabilities are determined using the following input levels at December 31, 2024 (in thousands):
| Carrying Value |  | Fair Value |  | Fair Value Measurements Using Fair Value Hierarchy
|  |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |
Derivative financial instruments | $ | 95 |  |  | $ | 95 |  |  | $ | — |  |  | $ | 95 |  |  | $ | — |
Financial liabilities: |  |  |  |  |  |  |  |  |
Derivative financial instruments | $ | 4,209 |  |  | $ | 4,209 |  |  | $ | — |  |  | $ | 4,209 |  |  | $ | — |
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis | The fair values of these financial and non-financial assets, if applicable, were determined using the following input levels at December 31, 2024 (in thousands):
|  |  |  |  | Fair Value Measurements Using Fair Value Hierarchy
| Net Carrying Value |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |
Impaired loans, net |  |  |  |  |  |  |  |  |
Loans held-for-investment (1) | $ | 445,287 |  |  | $ | 445,287 |  |  | $ | — |  |  | $ | — |  |  | $ | 445,287 |
Loans held-for-sale (2) | 13,178 |  |  | 13,178 |  |  | — |  |  | 13,178 |  |  | — |
| $ | 458,465 |  |  | $ | 458,465 |  |  | $ | — |  |  | $ | 13,178 |  |  | $ | 445,287 |
________________________________________ (1)We had an allowance for credit losses of $143.7 million relating to twenty-seven impaired loans with an aggregate carrying value, before loan loss reserves, of $589.0 million at December 31, 2024. The fair values of these impaired loans are based on the value of the underlying collateral. (2)We have an impairment of $1.4 million related to four loans held-for-sale with an aggregate carrying value, before unrealized impairment losses, of $14.6 million.
Schedule of Fair Value Measurement Inputs and Valuation Techniques | Quantitative information about Level 3 fair value measurements at December 31, 2024 is as follows ($ in thousands):
| Fair Value |  | Valuation Techniques |  | Significant Unobservable Inputs
Financial assets: |  |  |  |  |  |  |  |  |
Impaired loans: |  |  |  |  |  |  | Weighted Average |  | Minimum / Maximum
Multifamily | $ | 383,513 |  |  | Discounted cash flows |  | Capitalization rate |  | 6.19 | % |  | 5.75% - 7.25%
Land | $ | 49,999 |  |  | Discounted cash flows |  | Discount rate |  | 21.50 | % |  | 21.50%
|  |  |  |  | Revenue growth rate |  | 3.00 | % |  | 3.00%
Retail | $ | 11,775 |  |  | Sales comparative |  | Price per acre |  | $165 |  | $165
Schedule of Roll Forward of Level 3 Derivative Instruments | The derivative financial instruments using Level 3 inputs are outstanding for short periods of time (generally less than 60 days). A roll-forward of Level 3 derivative instruments is as follows (in thousands):
| Fair Value Measurements Using Significant Unobservable Inputs for the Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Derivative assets and liabilities, net |  |  |  |  |
Beginning balance | $ | 428 |  |  | $ | 354 |  |  | $ | 295 |
Settlements | (50,492) |  |  | (66,407) |  |  | (64,896) |
Realized gains recorded in earnings | 50,064 |  |  | 66,053 |  |  | 64,601 |
Unrealized gains recorded in earnings | — |  |  | 428 |  |  | 354 |
Ending balance | $ | — |  |  | $ | 428 |  |  | $ | 354 |
Schedule of Components of Fair Value and Other Relevant Information | The components of fair value and other relevant information associated with our forward sales commitments and the estimated fair value of cash flows from servicing on loans held-for-sale are as follows (in thousands):
December 31, 2024 |  | Notional/ Principal Amount |  | Fair Value of Servicing Rights |  | Interest Rate Movement Effect |  | Unrealized Impairment Loss |  | Total Fair Value Adjustment
Forward sale commitments |  | $ | 396,024 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Loans held-for-sale, net (1) |  | 438,233 |  |  | 5,138 |  |  | — |  |  | (1,381) |  |  | 3,757 |
Total |  |  |  | $ | 5,138 |  |  | $ | — |  |  | $ | (1,381) |  |  | $ | 3,757 |
________________________________________ (1)Loans held-for-sale, net are recorded at the lower of cost or market on an aggregate basis and includes fair value adjustments related to estimated cash flows from MSRs.
Schedule of Fair Value Measurements, Recurring and Nonrecurring | We measure certain assets and liabilities for which fair value is only disclosed. The fair values of these assets and liabilities are determined using the following input levels at December 31, 2024 (in thousands):
|  |  |  |  | Fair Value Measurements Using Fair Value Hierarchy
| Carrying Value |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |
Loans and investments, net | $ | 11,033,997 |  |  | $ | 11,122,205 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,122,205 |
Loans held-for-sale, net | 435,759 |  |  | 449,339 |  |  | — |  |  | 444,201 |  |  | 5,138 |
Capitalized mortgage servicing rights, net | 368,678 |  |  | 511,282 |  |  | — |  |  | — |  |  | 511,282 |
Securities held-to-maturity, net | 157,154 |  |  | 144,508 |  |  | — |  |  | — |  |  | 144,508 |
Financial liabilities: |  |  |  |  |  |  |  |  |
Credit and repurchase facilities | $ | 3,559,490 |  |  | $ | 3,592,120 |  |  | $ | — |  |  | $ | 422,661 |  |  | $ | 3,169,459 |
Securitized debt | 4,622,489 |  |  | 4,616,409 |  |  | — |  |  | — |  |  | 4,616,409 |
Senior unsecured notes | 1,236,147 |  |  | 1,160,154 |  |  | 1,160,154 |  |  | — |  |  | — |
Convertible senior unsecured notes, net | 285,853 |  |  | 287,500 |  |  | — |  |  | 287,500 |  |  | — |
Junior subordinated notes | 144,686 |  |  | 109,099 |  |  | — |  |  | — |  |  | 109,099 |

X
- Definition Tabular disclosure of components of fair value and other relevant information. + References No definition available. + Details
Name: | abr_ScheduleOfComponentsOfFairAndOtherRelevantInformationTableTextBlock
Namespace Prefix: | abr_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 103 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-103 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of financial instrument classified as a derivative asset (liability) after deduction of derivative liability (asset) using recurring unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration