Arbor Realty Trust Inc., a newly formed real estate investment trust based in Uniondale, N.Y., has announced the completion of a private financing.The financing included a private placement of the company's units, each consisting of five shares of common stock and one warrant to purchase one share of common stock, Arbor said. The REIT also reported a concurrent equity contribution by Arbor Commercial Mortgage LLC, which formed Arbor Realty to invest in real-estate-related structured finance assets. Gross proceeds from the private financing and the equity contribution totaled approximately $165 million, the REIT said. Arbor Realty will be managed by Arbor Commercial, and Ivan Kaufman will be its chief executive officer.
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