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.