Arbor Realty Trust (ABR) priced its public offering of 3.5 million shares of common stock at $5.80 per share.
The real estate investment trust granted the underwriters a 30-day option to purchase up to an additional 525,000 shares of its common stock on the same terms and conditions, to cover over-allotments, if any.
Arbor intends to use the net proceeds from the offering to make investments, to repurchase or pay liabilities, and for general corporate purposes.
Arbor is externally managed and advised by Arbor Commercial Mortgage, which specializes in debt and equity financing for multi-family and commercial real estate. Arbor Commercial is adding talent to expand its Federal Housing Administration multifamily lending unit.