Arbor Realty Trust is a specialized real estate finance company that invests in a diversified portfolio of structured finance assets in the multifamily and commercial real estate markets. The Company operates in the portfolio segment of commercial mortgage loans and investments. It invests primarily in real estate-related bridge and mezzanine loans, including junior participating interests in first mortgages, preferred and direct equity. Arbor may also directly acquire real property and invest in real estate-related notes and certain mortgage-related securities. Its principal business objective is to maximize the difference between the yield on its investments and the cost of financing these investments to generate cash available for distribution, facilitate capital appreciation and maximize total return to its stockholders. The Company is externally managed and advised by Arbor Commercial Mortgage.