UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 30, 2006 (October 26, 2006)

Arbor Realty Trust, Inc.

(Exact name of registrant as specified in its charter)

Maryland		001-32136		20-0057959
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

333 Earle Ovington Boulevard, Suite 900 Uniondale, New York 11553

(Address of principal executive offices) (Zip Code)

(516) 832-8002

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Arbor Realty Trust, Inc.
Current Report on Form 8-K

Item 1.01 Entry Into a Material Definitive Agreement.

The information in Item 2.03 is incorporated herein by reference.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

On October 26, 2005, Arbor Realty Trust, Inc. (the “Company”), as guarantor, and Arbor Realty SR, Inc., as seller, entered into a $150 million master repurchase agreement with a financial institution (the “Repurchase Agreement”). The facility has a rolling one-year term not to exceed three years from the effective date of the agreement and bears interest at a spread over LIBOR. Subject to the terms and conditions thereof, the Repurchase Agreement provides for the sale and repurchase of first lien mortgages, commercial mezzanine loans, B-notes, participation interests in the foregoing, and other mutually agreed upon collateral.

The facility requires that the Company satisfy certain financial covenants including minimum net worth, debt-to-equity ratios, and other restrictions and covenants that are normal and customary.

SIGNATURE

      Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: October 30, 2006		ARBOR REALTY TRUST, INC.
		By:		/s/ Paul Elenio
		Name:		Paul Elenio
		Title:		Chief Financial Officer