Arbor Realty Trust Takes $103.2 Million Net Loss

Arbor Realty Trust Inc. posted a net loss of $108.2 million for the fourth quarter of 2008, compared to net income of $15.3 million for the year-earlier period. Also during the quarter, the company recorded a $900,000 loss from its $10.2 million equity investment in the Alpine Meadows unconsolidated joint venture, a seasonal ski resort operation. This amount reflects Arbor Realty Trust's portion of the joint venture's losses, including depreciation expense of approximately $200,000, and was recorded in loss from equity affiliates and as a reduction to its investment in equity affiliates on the balance sheet. Arbor Realty Trust is a real estate investment trust that primarily invests in bridge and mezzanine loans, preferred and direct equity investments, mortgage-related securities and other real estate-related assets.