Historical Balance Sheet – Arbor Realty Trust 20 (Amounts in thousands, except per share amounts) December 31, 2014 2015 Assets: Cash and cash equivalents $50,418 $188,709 Restricted cash 1 218,101 48,301 Loans and investments, net 2 1,459,476 1,450,334 Available-for-sale securities, at fair value 2,500 2,022 Investments in equity affiliates 4,869 30,870 Real estate owned, net3 84,926 60,846 Real estate held-for-sale, net 14,382 8,669 Due from related party 4 37 8,082 Other assets 5 31,787 29,558 Total assets $1,866,494 $1,827,392 Liabilities and Equity: Credit facilities and repurchase agreements $180,047 $136,252 Collateralized loan obligations6 453,102 758,900 Collateralized debt obligations7 331,219 – Senior unsecured notes 93,037 93,765 Junior subordinated notes to subsidiary trust issuing preferred securities 156,391 157,117 Note payable 1,300 – Mortgage note payable—real estate owned 21,865 27,155 Mortgage note payable—real estate held-for-sale 9,119 – Due to related party 2,653 3,428 Due to borrowers 32,973 34,630 Other liabilities8 49,332 51,054 Total liabilities $1,331,039 $1,262,301 Equity: Preferred stock9 $89,296 $89,296 Common stock10 505 510 Additional paid-in capital 612,806 616,244 Accumulated deficit (152,483) (136,118) Accumulated other comprehensive loss (14,668) (4,841) Total equity $535,455 $565,091 Total liabilities and equity $1,866,494 $1,827,392 1 Includes $46,695,819 and $216,405,894 from consolidated VIEs for 2014 and 2015, respectively; 2 Includes $968,970,064 and $968,600,472 from consolidated VIEs for 2014 and 2015, respectively; 3 Includes $0 and $80,732,144 from consolidated VIEs for 2014 and 2015, respectively; 4 Includes $36,451 and $0 from consolidated VIEs for 2014 and 2015, respectively; 5 Includes $6,969,201 and $9,625,969 from consolidated VIEs for 2014 and 2015, respectively; 6 Includes $758,899,661 and $453,101,661 from consolidated VIEs for 2014 and 2015, respectively; 7 Includes $0 and $331,219,478 from consolidated VIEs for 2014 and 2015, respectively; 8 Includes $1,224,193 and $7,385,474 from consolidated VIEs for 2014 and 2015, respectively; 9 Cumulative, redeemable, $0.01 par value: 100,000,000 shares authorized; 8.25% Series A, $38,787,500 aggregate liquidation preference; 1,551,500 shares issued and outstanding; 7.75% Series B, $31,500,000 aggregate liquidation preference; 1,260,000 shares issued and outstanding; 8.50% Series C, $22,500,000 aggregate liquidation preference; 900,000 shares issued and outstanding; 10 $0.01 par value: 500,000,000 shares authorized; 50,962,516 and 50,477,308 shares issued and outstanding, respectively
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