Arbor Realty Trust, Inc. Announces Pricing Of Public Offering Of Series C Cumulative Redeemable Preferred Stock

UNIONDALE, N.Y., Feb. 20, 2014 (GLOBE NEWSWIRE) -- Arbor Realty Trust, Inc. (the "Company") (NYSE:ABR) announced today that it has priced the public offering of 900,000 shares of its 8.50% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of $22.5 million, before deducting underwriting discounts and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 135,000 shares of the Series C Preferred Stock to cover over-allotments, if any. The offering is expected to close on February 25, 2014.

The Company intends to use the net proceeds from the offering to make investments, to repurchase or pay liabilities and for general corporate purposes.

Deutsche Bank Securities Inc., JMP Securities LLC, Ladenburg Thalmann & Co. Inc. and MLV & Co. LLC will serve as joint book-running managers for the offering. 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

The offering will be made pursuant to the Company's existing effective shelf registration statement, previously filed with the Securities and Exchange Commission. The offering of these securities will be made only by means of a prospectus and related prospectus supplement. When available, copies of the prospectus and accompanying preliminary prospectus supplement relating to these securities may be obtained by contacting Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, New York 10005-2836, Email: prospectus.CPDG@db.com, Telephone: (800) 503-4611; JMP Securities LLC, 600 Montgomery Street, 10 th Floor, San Francisco, California 94111, Attn: Prospectus Department, Telephone: (415) 835-8985; Ladenburg Thalmann & Co. Inc., 570 Lexington Avenue, 11 th Floor, New York, New York 10022, Telephone: (212) 409-2000; and MLV & Co. LLC, Attn: Randy Billhardt, Email: rbillhardt@mlvco.com, Telephone: (212) 542-5882.

About Arbor Realty Trust, Inc.

The Company is a real estate investment trust, which invests in a diversified portfolio of multi-family and commercial real estate related bridge and mezzanine loans, preferred equity investments, mortgage related securities and other real estate related assets. The Company commenced operations in July 2003 and conducts substantially all of its operations through its operating partnership, Arbor Realty Limited Partnership and its subsidiaries. Arbor is externally managed and advised by Arbor Commercial Mortgage, LLC, a national commercial real estate finance company operating through 14 offices in the U.S. that specializes in debt and equity financing for multi-family and commercial real estate.

If you liked this article you might like

The Answer to Whether You Should Buy Bonds Is: 'Are You Nuts'?

Making a Pitch for Real Estate Winners

Making a Pitch for Real Estate Winners

What To Hold: 3 Hold-Rated Dividend Stocks ATAX, CLMS, ABR

3 Hold-Rated Dividend Stocks: EVA, ABR, MCC

What To Hold: 3 Hold-Rated Dividend Stocks EVOL, ABR, MCC