Arbor Realty Trust Recognizes A $58M Gain Related To The 450 West 33rd Street Transaction

Arbor Realty Trust, Inc.

, today announced the recognition of a $58 million net gain related to its investment in the 450 West 33rd Street property. In 2007, the Company received net proceeds of approximately $58 million from the closing of this transaction and recorded a corresponding net deferred gain as a result of guarantying a portion of the property's indebtedness. In July 2014, the existing debt on the property was refinanced and the Company's portion of the guarantee terminated, resulting in the recognition of the deferred gain for GAAP purposes. The recognition of this gain will increase, on a proforma basis, the Company's previously disclosed March 31, 2014 GAAP book value per common share by $1.16 to $8.71 from $7.55 per common share.