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Arbor Realty – With Regards to Fraudcasting

Author: Published on: Published in: Arbor Realty Trust (NYSE:ABR)

July 12, 2024 – In June 2024, Arbor borrower Moneil Capital sent a capital call letter to its syndicate investors to restructure its Regard at Med Center loans. Arbor has $52m of loans secured against this property, which was most recently valued, by Arbor’s valuers, at $52m: the LTV is 100%.

Moneil’s rate cap expired on July 1, 2024. If the Capital Call by the syndicator were not so evil and malicious, it would be funny. Even if Moneil were to obtain a rate cap, Arbor would still be unable to recoup its principal at the maturity of the loan as the property appraisal is ludicrously overstated and appears fraudulent.

This loan is severely impaired but no impairment has been made by Arbor. Moneil has outrightly stated that selling the property or refinancing is not an option, as it will completely wipe out investors.

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