Ladder Capital Corp Provides Financing and Liquidity Update
April 02 2020 - 05:41PM
Business Wire
Ladder Capital Corp (“Ladder” or the “Company”) (NYSE: LADR) is
mindful of the impact the global COVID-19 pandemic has had on its
employees, clients, financing partners and shareholders. The
Company is providing a current update to all of its constituents
regarding the steps Ladder has taken in response to the turbulent
market conditions accompanying the spread of the virus. Ladder will
continue to exercise appropriate caution as the Company endeavors
to prudently navigate through this uncertain environment.
As of today, Ladder has over $300 million of cash after having
just paid its previously announced quarterly cash dividend. The
Company has also timely met all margin calls.
Consistent with Ladder’s long-standing philosophy of
pro-actively managing risk, the Company recently engaged Moelis
& Company LLC to evaluate financing alternatives to enable it
to both navigate potential further market dislocations as well as
take advantage of opportunities created by those dislocations.
About Ladder
Ladder Capital Corp (NYSE: LADR) is an internally-managed
commercial real estate investment trust with over $6 billion of
assets. Our investment objective is to preserve and protect
shareholder capital while producing attractive risk-adjusted
returns. As one of the nation’s leading commercial real estate
capital providers, we specialize in underwriting commercial real
estate and offering flexible capital solutions within a
sophisticated platform.
Ladder 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) our
primary business of originating senior first mortgage fixed and
floating rate loans collateralized by commercial real estate with
flexible loan structures; (ii) investing in investment grade
securities secured by first mortgage loans on commercial real
estate; and (iii) owning and operating commercial real estate,
including net leased commercial properties.
Founded in 2008, Ladder 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.
Members of Ladder’s management and board of directors are highly
aligned with the Company’s investors, owning over 10% of the
Company’s equity. Led by Brian Harris, the Company’s Chief
Executive Officer, Ladder is headquartered in New York City with
regional offices in California and Florida.
Forward-Looking Statements &
Coronavirus Risk
Certain statements in this release may constitute
“forward-looking” statements. These statements are based on
management’s current opinions, expectations, beliefs, plans,
objectives, assumptions or projections regarding future events or
future results. These forward-looking statements are only
predictions, not historical facts, and involve certain risks and
uncertainties, as well as assumptions. These forward-looking
statements are subject to risks, uncertainties and other factors,
many of which are outside the Company’s control, which could cause
actual results to differ materially from the results contemplated
by the forward-looking statements. These risks and uncertainties
include the potential adverse effects of the ongoing global
COVID-19 pandemic, including actions taken to contain or treat the
virus, on the Company, its clients and the global economy and
financial markets, as well as those set forth under the heading
“Risk Factors” in the Company’s Annual Report on Form 10-K for the
year ended December 31, 2019 and Ladder’s consolidated financial
statements, related notes, and other financial information
appearing in its Annual Report, and its other filings with the
Securities and Exchange Commission.
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Investor Contact Ladder
Capital Corp Investor Relations (917) 369-3207
investor.relations@laddercapital.com
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