debt
confidence high
sentiment neutral
materiality 0.50
Arbor Realty closes $802M build-to-rent CLO securitization
ARBOR REALTY TRUST INC
- Issued $682.6M investment grade notes; retained $119.3M subordinate interests and $41M of investment grade notes.
- Securitization includes $200M senior revolving note ($50M drawn at close) to fund construction advances.
- Proceeds used to repay credit facilities, pay expenses, and fund future loans and investments.
- Notes rated by Fitch and DBRS; initial weighted average spread of 2.48% over Term SOFR.
- Two-year replenishment period allows reinvestment of principal proceeds in qualifying replacement assets.
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