REIT

The firm will use the transaction to expand its agency lending capabilities and tee up more exits through its mortgage REIT investments.

The manager expects high interest rates and lower deal volumes to restrict broader CLO market comeback.

A key theme the REIT is following is a migration of people leaving cities for the suburbs.

REIT chief executive predicts more distress, refinancing creativity and preferred equity use.

CIO Tom Buttacavoli believes today’s over-stimulated economy could result in a mild recession in mid-to-late 2023. 

The mortgage REIT in May upsized its revolving credit facility from $45m to $65m.

Despite widespread confusion and concern over the situation in Ukraine, most investment-grade REIT bond yields have remained attractive.