Arbor Realty Trust, Inc. (NYSE: ABR) redeemed $787 million of outstanding notes from its legacy CLO 17 at par value on May 15, according to a company statement.

The real estate investment trust transferred approximately $1.21 billion of assets into two existing repurchase facilities with JPMorgan Chase Bank, N.A. The new facilities provide improved leverage of approximately 76%, compared to 68% in the previous CLO vehicle.

The transaction created approximately $132.3 million of additional liquidity for the company. Arbor stated the repurchase facilities offer pricing below the previous CLO 17 structure.

Arbor Realty Trust operates as a nationwide real estate investment trust and direct lender, providing loan origination and servicing for multifamily, single-family rental portfolios, and commercial real estate assets. The company is headquartered in New York and manages a multibillion-dollar servicing portfolio.