Arbor Realty of Uniondale reports $230M loss for 2009
Arbor Realty Trust, Uniondale
Real Estate Investment Trust
Year: Ended Dec. 31
Net income: Loss of $230.6 million, compared with a loss of $81.2 million last year.
Net balance in loan and investment portfolio: $2.1 billion compared with $2.2 billion in 2008.
Company statement: In 2009, the company restructured all of its $374 million of debt with Wachovia Bank. Arbor also paid down about $38 million of this debt during 2009, leaving a remaining balance outstanding of about $336 million. In 2010, the company entered into an agreement with Wachovia to retire all of the $335.6 million of outstanding debt for $176.2 million, representing 52.5 percent of the face amount of the debt.
Tax hike in town's proposed budget ... Residents sue over industrial park plan ... Attacks ads targeting Suozzi paused ... Out East: McCall Wines
Tax hike in town's proposed budget ... Residents sue over industrial park plan ... Attacks ads targeting Suozzi paused ... Out East: McCall Wines
