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Five Oaks Acquires Hunt CMT Platform
Five Oaks Investment Corp., externally managed by Hunt Investment Management, is acquiring Hunt CMT Equity LLC from Hunt Mortgage Group for approximately $68 million. Hunt CMT’s assets include a collateralized loan obligation pool, a licensed commercial mortgage lender and eight loan participations.
“This transaction provides the company with attractive floating rate investments which we anticipate will produce higher returns for our investors while decreasing our overall leverage,” said Five Oaks CEO James Flynn, who’s also Hunt Mortgage’s president and CIO.
Five Oaks’ president, Michael Larsen, said the deal was “the first of what we anticipate to be a series of similar ongoing investments by the company in the commercial mortgage space.”
The CLO pool is financed by $290.7 million of investment-grade notes, with a weighted-average cost of 138 basis points over one-month LIBOR. The eight mortgage loans have a portfolio balance of $346.3 million, backed by various property types.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Sale/Acquisition
