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Related Bets $80M on Finance REIT
Related Companies bought $80 million in stock in Ladder Capital Corp, a real estate investment trust specialized in commercial real estate finance.
“Ladder’s core earnings have been positive each quarter since their inception, and they have never had a credit loss,” said Jeff Blau, CEO of Related Companies.
The investment was made by Related Real Estate Fund II, an opportunity fund, with equity commitments of over $1 billion. Related struck the acquisition deal from investors that had owned shares of Ladder before the companies initial public offering, including affiliates of TowerBrook Capital Partners and GI Partners.
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