Core Insights - Mag Mile Capital has successfully arranged $10.25 million in joint venture equity for a Class A office-to-multifamily conversion project in Chicago [1][2][3] - The equity was secured from an institutional limited partner based in Chicago, with the transaction closing in late May 2025 [2][6] - The project will convert a former Class A office space into 153 Class A multifamily rental apartments [3][4] Company Overview - Mag Mile Capital is a boutique commercial real estate mortgage banking firm headquartered in Chicago, with additional offices in several states [7] - The firm specializes in real estate bridge financing, mezzanine and permanent debt placement, and equity arrangements across various real estate asset classes [7] - Mag Mile Capital has collectively closed over $9 billion in real estate financing during its personnel's combined 32 years of experience in the industry [7] Project Details - The project is located at 111 W. Illinois in the River North neighborhood of Chicago [1][6] - The joint venture aims to fund a portion of the construction costs required for the conversion [3][4] - The transaction is significant as it represents one of the largest office-to-residential conversion projects in Chicago following the Covid-19 pandemic [4] Leadership Commentary - Matt Weilgus, SVP and Head of Originations, emphasized the importance of securing a seasoned institutional capital partner with local market expertise for the project [4] - Rushi Shah, Chairman and CEO, highlighted the significance of long-standing relationships with clients and capital partners in achieving this closing [5] - The company aims to continue delivering tailored financing and equity solutions across all commercial real estate sectors nationwide [5]

NEW YORK, May 09, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against The Bancorp, Inc. (NASDAQ: TBBK) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Bancorp, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-bancorp-inc. Investors have until May 16, 2025, to ask the Court to be appointed to lead ...

NEW YORK, May 07, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against The Bancorp, Inc. (NASDAQ: TBBK) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Bancorp, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-bancorp-inc. Investors have until May 16, 2025, to ask the Court to be appointed to lead ...

Arbor Realty Trust (ABR) Q1 2025 Earnings Call May 02, 2025 10:00 AM ET Company Participants Paul Elenio - EVP & CFOIvan Kaufman - Founder, Chairman & CEOJade Rahmani - Managing DirectorLeon Cooperman - Chairman and CEO Conference Call Participants Steven Delaney - AnalystRick Shane - Analyst Operator Good morning, ladies and gentlemen, and welcome to the First Quarter twenty twenty five Arbor Realty Trust Earnings Conference Call. Please be advised that today's conference is being recorded. I would now lik ...

Financial Data and Key Metrics Changes - The company reported distributable earnings of $57.3 million or $0.28 per share, and $0.31 per share excluding one-time realized losses from the sale of two REO assets [19] - The return on equity (ROE) for the first quarter was approximately 10% [19] - The company anticipates a quarterly distributable earnings guidance of $0.30 to $0.35 for 2025 [19] Business Line Data and Key Metrics Changes - The balance sheet lending platform originated $370 million in new bridge loans during the first quarter, with a full-year guidance of $1.5 billion to $2 billion [12][13] - The agency business had a slow first quarter, producing $6 million in originations and $731 million in loan sales, maintaining strong margins of 1.75% [25] - The investment portfolio grew to $11.5 billion at March 31, with an all-in yield of 7.85% [26] Market Data and Key Metrics Changes - The company experienced a reduction in delinquencies, down 20% to $654 million at March 31 compared to $819 million at December 31 [22] - The average yield on core investments decreased to 8.15% from 8.52% due to a reduction in the average SOFR rate [26] - The overall net interest spread in core assets decreased to 1.26% from 1.44% [28] Company Strategy and Development Direction - The company is focused on resolving REO assets and delinquencies, viewing 2025 as a transitional year to set up for growth in 2026 [18] - The company plans to leverage efficiencies in the securitization market to drive higher returns on capital [6][18] - The strategy includes repositioning underperforming assets to improve occupancy and net operating income (NOI) [11] Management's Comments on Operating Environment and Future Outlook - Management noted significant uncertainty and volatility in the interest rate environment, impacting the ability to predict future performance [8] - The company expects continued challenges in the short term due to the drag on earnings from REO assets and delinquencies [12] - If interest rates decrease, it could positively impact the company's ability to convert non-interest earning assets into income-producing investments [11] Other Important Information - The company has successfully modified $38 million of loans and brought $39 million of loans back to full performance [10] - The company took back $197 million of REO assets in the first quarter, with expectations to increase REO assets to between $400 million and $500 million [52] - The company has managed to deleverage its business by 30%, reducing the leverage ratio to 2.8:1 [29] Q&A Session Summary Question: Outlook for the Bridge Loan Portfolio - Management expects net growth in the bridge loan portfolio in 2025, targeting $1.5 billion to $2 billion in new business [32][34] Question: Reasons for Poor Performance in Previous Vintages - Management attributed poor performance to a combination of market corrections, economic factors, and inexperienced management in the multifamily sector [40][42] Question: Liquidity and NPLs Expectations - The company currently has $325 million in cash and liquidity, with expectations for NPLs to decrease as they work through the REO assets [48][54] Question: Non-Cash Income and Interest - The company reported $15.3 million of non-cash interest during the quarter, which is a moving number based on loan modifications [65][66] Question: Interest Rate Environment - Management discussed the impact of interest rates on business performance, noting that lower rates could enhance earnings potential [72][74]

NEW YORK, May 01, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against The Bancorp, Inc. (NASDAQ: TBBK) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Bancorp, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-bancorp-inc. Investors have until May 16, 2025, to ask the Court to be appointed to lead ...

New York Mortgage Trust, Inc. 2025 First Quarter Financial Summary These and other risks, uncertainties and factors, including the risk factors and other information described in our most recent Annual Report on Form 10-K, as updated and supplemented from time to time, and our subsequent Quarterly Reports on Form 10-Q and other information that we file from time to time with the U.S. Securities and Exchange Commission ("SEC") under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), could ...

NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against The Bancorp, Inc. (NASDAQ: TBBK) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in Bancorp, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-bancorp-inc. Investors have until May 16, 2025, to ask the Court to be appointed to lea ...

NEW YORK, April 27, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against The Bancorp, Inc. (NASDAQ: TBBK) and certain of the Company’s senior executives for potential violations of the federal securities laws. If you invested in Bancorp, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-bancorp-inc. Investors have until May 16, 2025, to ask the Court to be appointed to lea ...

Arbor Realty Trust, Inc. (NYSE:ABR) Q4 2024 Earnings Conference Call February 21, 2025 10:00 AM ET Company Participants Paul Elenio - CFO Ivan Kaufman - President & CEO Conference Call Participants Steven Delaney - Citizens JMP Stephen Laws - Raymond James Leon Cooperman - Omega Family Office Richard Shane - JPMorgan Jade Rahmani - KBW Crispin Love - Piper Sandler Operator Good morning, ladies and gentlemen. Welcome to the Fourth Quarter and Full Year 2024 Arbor Realty Trust Earnings Conference Call. At thi ...