Arbor Realty Trust Sends Letter to CBRE Realty Finance

Requesting Clarification and Updates on Certain Assets 
UNIONDALE, N.Y., Jan. 22 /PRNewswire-FirstCall/ -- Arbor Realty Trust,
Inc. (NYSE: ABR), a real estate investment trust focused on the business of
investing in real estate related bridge and mezzanine loans, preferred and
direct equity investments, mortgage-related securities and other real estate
related assets, today announced that the Company has sent a letter to CBRE
Realty Finance, Inc. (NYSE: CBF) requesting clarification and updates on
certain assets. Below is the letter as transmitted. 


    January 22, 2008
    Mr. Kenneth Witkin
    Chief Executive Officer and Director
    CBRE Realty Finance, Inc.
    185 Asylum Street, 31st Floor
    Hartford, CT  06103
    Dear Ken:
    It has come to our attention that since your earnings call of November 12,
    2007, in which you described the Company's net loss of $50 million, or
    $1.64 per share, substantially negatively impacted by two assets
    foreclosed during the second quarter of 2007, that certain events have
    occurred such as:
    * there has been a default on the Drake Hotel loan and principal and
      interest is past due (we believe your position is between $40 million
      and $45 million) -- you have informed us that the Company has purchased
      this loan out of one of its CDOs utilizing substantial liquidity
      available to the Company;
    * I believe that the Macklowe Equity Office Property loan, a part of which
      is in one of your CDOs, is likely to go into default in early February
      2008 (we believe your position is between $40 million and $45 million);
      and
    * the continued deterioration in the market makes it difficult to believe
      that your November 12, 2007 statement that your $77 million "joint
      venture assets are performing satisfactorily ... " is correct.
    Additionally, we would like to know whether your comments of November 12,
    2007 "We have no non-performing loans in our debt portfolio, ... and
    overall [I] am personally satisfied with the current performance of our
    core portfolio" are true and correct currently or need to be updated to
    not omit material facts in light of the current market and circumstances.
    Your immediate response is requested due to the potential materiality of
    these issues and your prior public statements in the market.  If any
    statements are incorrect, please inform me immediately.  It is important
    that the Company update the market as to interim and projected write-downs
    which could have a material effect on your Company.
                                                     Sincerely,
                                                     Ivan Kaufman
                                                     Chief Executive Officer
                                                     Arbor Realty Trust, Inc.
    About Arbor Realty Trust, Inc.


Arbor Realty Trust, Inc. is a real estate investment trust which invests
in a diversified portfolio of multifamily and commercial real estate related
bridge and mezzanine loans, preferred equity investments, mortgage related
securities and other real estate related assets.  Arbor commenced operations
in July 2003 and conducts substantially all of its operations through its
operating partnership, Arbor Realty Limited Partnership and its subsidiaries.
Arbor is externally managed and advised by Arbor Commercial Mortgage, LLC, a
national commercial real estate finance company operating through 11 sales and
origination support offices in the US that specializes in debt and equity
financing for multi-family and commercial real estate. 
Safe Harbor Statement 
Certain items in this press release may constitute forward-looking
statements within the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995.  These statements are based on
management's current expectations and beliefs and are subject to a number of
trends and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements.  Arbor can give no
assurance that its expectations will be attained. Factors that could cause
actual results to differ materially from Arbor's expectations include, but are
not limited to, continued ability to source new investments, changes in
interest rates and/or credit spreads, changes in the real estate markets, and
other risks detailed in Arbor's Annual Report on Form 10-K for the year ended
December 31, 2006 and its other reports filed with the SEC.  Such forward-looking statements speak only as of the date of this press release.  Arbor
expressly disclaims any obligation or undertaking to release publicly any
updates or revisions to any forward-looking statements contained herein to
reflect any change in Arbor's expectations with regard thereto or change in
events, conditions, or circumstances on which any such statement is based. 


     Contacts:                                 Investors:
     Arbor Realty Trust, Inc.                  Stephanie Carrington
     Paul Elenio, Chief Financial Officer      The Ruth Group
     516-832-7422                              646-536-7017
     pelenio@arbor.com                         scarrington@theruthgroup.com
     Media:
     Bonnie Habyan, SVP of Marketing
     516-229-6615
     bhabyan@arbor.com




SOURCE  Arbor Realty Trust, Inc. 
CONTACT:
Paul Elenio, Chief Financial Officer, +1-516-832-7422, pelenio@arbor.com, or 
Bonnie Habyan, SVP of Marketing, +1-516-229-6615, bhabyan@arbor.com, both of 
Arbor Realty Trust, Inc.; or Investors, Stephanie Carrington of The Ruth Group, 
+1-646-536-7017, scarrington@theruthgroup.com, for Arbor Realty Trust, Inc.
-0- Jan/22/2008 16:45 GMT
 
 
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