Attached files
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| 8-K - 8-K - ARBOR REALTY TRUST INC | a11-14944_18k.htm |
Exhibit 99.1
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Contacts: Arbor Realty Trust, Inc. |
Investors: |
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| Media: Bonnie Habyan, EVP of Marketing 516-506-4615 bhabyan@arbor.com |
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Arbor Realty Trust, Inc. Announces Approval of Share Repurchase Program
Uniondale, NY, June 14, 2011 — Arbor Realty Trust, Inc. (NYSE: ABR) announced today that its Board of Directors has approved a share repurchase program authorizing the Company to repurchase in the aggregate up to 1.5 million shares of its outstanding common stock. At management’s discretion, the shares may be acquired from time to time in the open market, through privately negotiated transactions or pursuant to a Rule 10b5-1 plan. A Rule 10b5-1 plan permits the Company to repurchase its outstanding shares at times when it might otherwise be prevented from doing so.
This share repurchase program does not obligate the Company to acquire any particular amount of its outstanding shares. This share repurchase program may be suspended, modified or discontinued at any time and has no set expiration date.
About Arbor Realty Trust, Inc.
Arbor Realty Trust, Inc. 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. Arbor 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 US that specializes in debt and equity financing for multi-family and commercial real estate.
Safe Harbor Statement
Certain items in this press release may constitute forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management’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’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’s Annual Report on Form 10-K for the year ended December 31, 2010 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’s expectations with regard thereto or change in events, conditions, or circumstances on which any such statement is based.