Arbor Realty Trust closes $489M multifamily mortgage loan securitization

Arbor Realty Trust Inc. closed a multifamily mortgage loan securitization totaling about $489 million.

The securitization is backed by a pool of 30 fixed-rate mortgage loans secured by first priority mortgage liens on 40 multifamily properties. The loans were originated, sold and sponsored by Arbor affiliate Arbor Private Label LLC and will primarily be serviced by Arbor Multifamily Lending LLC, Arbor Realty Trust's servicing and asset management affiliate.

Beneficial ownership interests in the securitization trust are represented by a series of multifamily mortgage pass-through certificates, which were issued in a private placement under a pooling and servicing agreement that will govern the servicing and administration of the mortgage loans.

An Arbor affiliate will retain the most subordinate class of certificates, with a balance of roughly $43.4 million, in satisfaction of credit risk retention requirements.