CBRE Realty Finance, Inc. and Arbor Realty Trust, Inc. Reach

Agreement 
Arbor Withdraws Director Slate 
HARTFORD, Conn. and UNIONDALE, N.Y., April 23 /PRNewswire-FirstCall/ --
CBRE Realty Finance, Inc. (NYSE: CBF) (the "Company") and Arbor Realty Trust,
Inc. (NYSE: ABR) today announced that they have reached an agreement relating
to the CBRE Realty Finance 2008 Annual Meeting of Stockholders. 
Under the terms of the agreement, Arbor has withdrawn its nomination of a
slate of directors for election at the CBRE Realty Finance 2008 Annual Meeting
of Stockholders and will not initiate any proxy solicitation.  Arbor has also
agreed to vote all shares, which it is entitled to vote in support of all of
the CBRE Realty Finance Board's director nominees at the 2008 Annual Meeting.
Arbor also has agreed to abide by certain standstill provisions for the next
12 months. 
CBRE Realty Finance has agreed that, if its Board during the next 12
months begins a process of seeking proposals for the acquisition of all or
substantially all of the common stock or assets of the Company, Arbor will be
afforded the opportunity to participate in such a process.  CBRE Realty
Finance is not required to run any process of this type, and there is no
assurance that it will. 
Kenneth J. Witkin, President and Chief Executive Officer of CBRE Realty
Finance, said, "We are pleased to have reached this agreement with Arbor and
believe this outcome is in the best interests of our Company and all of our
stockholders.  Our Board and management team remain focused on improving the
Company's operations and financial performance.  Furthermore, our Board
continues to actively work with our financial advisor to identify and evaluate
a range of strategic and operational initiatives to enhance stockholder
value." 
"We are pleased that Arbor and CBRE Realty Finance have resolved our
differences and that there will be no contested election at the CBRE Realty
Finance stockholder meeting this year," said Ivan Kaufman, Chairman, President
and Chief Executive Officer of Arbor.  "It was always Arbor's objective to sit
down with CBRE Realty Finance and try to work out a mutual deal and Arbor
believes this puts it in a good position to accomplish this, avoiding a
lengthy, adversarial and expensive proxy contest.  This also allows the
management teams of each company to concentrate on their businesses and focus
on increasing stockholder value." 
The Company plans to file with the SEC and mail to its stockholders a
definitive proxy statement (the "2008 Proxy Statement") relating to its 2008
annual meeting of stockholders, which has not yet been scheduled.  The
Company, its directors and certain of its officers may be deemed, under the
SEC's rules, to be participants in a solicitation of proxies from its
stockholders in connection with the 2008 annual meeting of stockholders.
Information regarding those directors and officers and their respective
interests is set forth in the Schedule 14A filed by the Company with the SEC
on February 4, 2008. Investors should read the 2008 Proxy Statement when it
becomes available because it will contain important information. Investors can
obtain the Schedule 14A and, after it is filed, will be able to obtain the
2008 Proxy Statement for free at the SEC's website at www.sec.gov and the
Company's website at www.cbrerealtyfinance.com. 
About CBRE Realty Finance, Inc. 
CBRE Realty Finance, Inc. is a commercial real estate specialty finance
company primarily focused on originating, acquiring, investing in, financing
and managing a diversified portfolio of commercial real estate-related loans
and securities. CBRE Realty Finance has elected to qualify to be taxed as a
real estate investment trust, or REIT, for federal income tax purposes. CBRE
Realty Finance is externally managed and advised by CBRE Realty Finance
Management, LLC, an indirect subsidiary of CB Richard Ellis Group, Inc. and a
direct subsidiary of CBRE/Melody & Company. For more information on the
Company, please visit the Company's website at
http://www.cbrerealtyfinance.com. 
Forward-Looking Information 
This press release contains forward-looking statements based upon the
Company's beliefs, assumptions and expectations of its future performance,
taking into account all information currently available. These beliefs,
assumptions and expectations can change as a result of many possible events or
factors, not all of which are known to the Company or are within its control.
If a change occurs, the Company's business, financial condition, liquidity and
results of operations may vary materially from those expressed in its
forward-looking statements. The factors that could cause actual results to
vary from the Company's forward-looking statements include the Company's
future operating results, its business operations and prospects, general
volatility of the securities market in which the Company invests and the
market prices of its common stock, the Company's ability to begin making
investments in the future, availability, terms and development of short-term
and long-term capital, availability of qualified personnel, changes in the
industry, interest rates, the debt securities, credit and capital markets, the
general economy or the commercial finance and real estate markets
specifically, performance and financial condition of borrowers and corporate
customers, increased prepayments of the mortgage and other loans underlying
the Company's investments, the status of the class action lawsuit and any
future litigation that may arise, the ultimate proceeds of the EOP assets that
underlie the Company's $40 million mezzanine investment and resolution of the
Company's $42.8 million B-note investment, and other factors, which are beyond
the Company's control. The Company undertakes no obligation to publicly update
or revise any of the forward-looking statements. For further information,
please refer to the Company's filings with the Securities and Exchange
Commission. 
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, 2007 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. 


    AT CBRE REALTY FINANCE:
    Michael Angerthal
    Chief Financial Officer
    (860) 275-6222
    michael.angerthal@cbrerealtyfinance.com
    AT ARBOR REALTY TRUST:
    Paul Elenio (Investors)              Bonnie Habyan (Media)
    Chief Financial Officer              SVP of Marketing
    (516) 832-7422                       (516) 229-6615
    pelenio@arbor.com                    bhabyan@arbor.com
    Stephanie Carrington (Investors)
    The Ruth Group
    (646) 536-7017
    scarrington@theruthgroup.com




SOURCE  CBRE Realty Finance, Inc.; Arbor Realty Trust, Inc. 
CONTACT:
Michael Angerthal, Chief Financial Officer, CBRE Realty Finance, Inc., +1-860-275-6222, michael.angerthal@cbrerealtyfinance.com; Investors, Paul Elenio, 
Chief Financial Officer, Arbor Realty Trust, Inc., +1-516-832-7422, 
pelenio@arbor.com; or Stephanie Carrington, The Ruth Group, +1-646-536-7017, 
scarrington@theruthgroup.com; Media, Bonnie Habyan, SVP of Marketing, Arbor 
Realty Trust, Inc., +1-516-229-6615
-0- Apr/23/2008 22:30 GMT
 
 
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