NEW YORK--()--Ladder Capital Finance Holdings LLLP (“Ladder”) today announced the closing of an offering of $325 million in aggregate principal amount of 7.375% senior notes due 2017 by Ladder and Ladder Capital Finance Corporation, a direct wholly-owned subsidiary of Ladder.
Pending the use of proceeds for investment purposes, Ladder intends to use the net proceeds of this offering to repay certain of its funding debt.
The notes were offered in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States pursuant to Regulation S under the Securities Act. The notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell the notes, nor a solicitation for an offer to purchase the notes.
About Ladder Capital
Ladder Capital is a leading commercial real estate finance company that originates and invests in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Our investment activities include (i) direct origination of mid-market commercial real estate first mortgage loans of $5 million to $75 million and (ii) investments in investment grade securities secured by first mortgage loans on commercial real estate. Founded in 2008, Ladder Capital is run by a highly experienced management team with extensive expertise in all aspects of the commercial real estate industry, including origination, credit, underwriting, structuring, capital markets and asset management. Led by Brian Harris, the company’s Chief Executive Officer, Ladder Capital is headquartered in New York City and has branches in Dallas, Los Angeles, and Boca Raton. For more information, visit www.laddercapital.com.
This message may contain forward-looking statements based on current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by the company. Words such as “may,” “will,” “should,” “could,” “predicts,” “projects,” “potential,” “continue,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding changes in economic conditions generally; changes in our industry and changes in the commercial finance and the real estate markets specifically; our business and investment strategy; our ability to obtain and maintain financing arrangements, including securitizations; the financing and advance rates for our assets; our expected leverage; the adequacy of collateral securing our loan portfolio and a decline in the fair value of our assets; interest rate mismatches between our target assets and our borrowings used to fund such investments; changes in interest rates and the market value of our target assets; changes in prepayment rates on our assets; the effects of hedging instruments and the degree to which our hedging strategies may or may not protect us from interest rate and credit risk volatility; the increased rate of default or decreased recovery rates on our assets; the adequacy of our policies, procedures and systems for managing risk effectively; a downgrade in the credit ratings assigned to our investments; the impact of and changes in governmental regulations, tax law and rates, accounting guidance and similar matters; the ability of certain of our subsidiaries’ to maintain qualification as a REIT for U.S. federal income tax purposes; the ability of our subsidiaries to maintain their exemptions from registration under the Investment Company Act of 1940, as amended; potential liability relating to environmental matters that impact the value of properties we may acquire or the properties underlying our investments; the inability of insurance covering real estate underlying our loans and investments to cover all losses; the availability of investment opportunities in mortgage-related and real estate-related instruments and other securities; fraud by potential borrowers; the availability of qualified personnel; the degree and nature of our competition; the market trends in our industry, interest rates, real estate values, the debt securities markets or the general economy; and the prepayment of the mortgage and other loans underlying our mortgage-backed and other asset backed securities. Such statements speak only as of the date hereof and are subject to change. Ladder undertakes no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.