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Arbor Net Income Increases 32%

UNIONDALE, NY-Six months after launching an IPO, Arbor Realty Trust continues its growth strategy and realizes a 32% increase in net income.

By Barbara Jarvie | Updated on October 31, 2004

UNIONDALE, NY-Arbor Realty Trust reported third-quarter results with a net income increase of 32% from the previous quarter. Additionally, total loans were up 19% from the previous quarter for the newly-public REIT.

For the quarter ended Sept. 30, Arbor reported net income of $7.6 million, compared to net income for the quarter ended June 30 of $5.8 million. For the nine months ended September 30, 2004, net income totaled $16.5 million.

Total revenues for the quarter were $16.9 million, of which $16.5 million was from the loan and investment portfolio. This is an increase of 41% from the previous quarter. The balance in the loan and investment portfolio increased to $791 million by quarter end, up from $664 million as of June 30.

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