Arbor Realty Trust Targets $700 Million in Cash by First Quarter’s End

Arbor Realty Trust management is targeting about $700 million in cash by the end of the first quarter as the company manages liquidity needs, including a debt maturity in March. The company has about $400 million on hand and expects to generate another $300 million in liquidity over the next four to five months. Arbor has suspended its common dividend to preserve cash. Arbor plans to work through $400 million to $500 million of legacy loans each quarter, with a goal of materially lowering nonperforming exposure within four to six quarters.

Source: TokenPost