67 WALL STREET, New York - October 23, 2012 - The Wall Street Transcript has just published its REITs Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Acquisition and Financing Costs - Pricing Power Outlook - Residential and Commercial REITs - Real Estate New Supply - Inexpensive Access to Capital - Apartment, Lodging, Self-Storage and Office REITs
Companies include: Arbor Realty Trust Inc. (ABR) and many others.
In the following excerpt from the REITs Report, the CFO of ABR discusses the outlook for his company for investors:
TWST: Please start with a company history and a snapshot of Arbor Realty Trust's business and operations today.
Mr. Elenio: Arbor Realty Trust is, as you may know, a commercial mortgage real estate finance company structured as a mortgage REIT. We focus primarily on commercial mortgage loans, and we also invest in residential mortgage securities. Those components, for the most part, make up a significant amount of our business.
The predecessor company for this company was Arbor Commercial Mortgage, which began in 1993, and one of its business lines was focused on the business that we now pursue in the REIT today. In 2003, when we saw the opportunities in the market outpacing our capital, we decided to access the capital markets by raising capital through a 144A equity raise and creating this mortgage REIT. We then were able to take the company public nine months later with an IPO in April of 2004, raising additional equity at that time to help grow the platform. So as a public company since 2004, we've been investing in this type of business.
Of late, we've been able to successfully survive the credit crisis that existed over the past few years, and in the past 12 or 15 months, we've been back on the offensive in a significant way, lending again and getting back to our core business, which is making short-term commercial mortgage loans and investing in securities. So we've been back focused on that business for the past 12 or 15 months and are seeing a lot of very good opportunity in the market. Our pipeline of opportunities has grown significantly.
TWST: How did the company fare during the real estate and economic downturn and the credit crisis? And secondly, what is your outlook today and going forward?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.