Redwood Trust and Oaktree Announce Joint Venture To Invest In Business Purpose Bridge Loans; Funded 80% By Oaktree And 20% By Redwood
Portfolio Pulse from Benzinga Newsdesk
Redwood Trust and Oaktree Capital Management have announced a joint venture to invest in business purpose bridge loans originated by CoreVest, a division of Redwood. The total equity commitment, funded 80% by Oaktree and 20% by Redwood, has the potential to finance over $1 billion of newly-originated bridge loans.
June 12, 2023 | 8:20 pm
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Redwood Trust forms a joint venture with Oaktree Capital Management to invest in business purpose bridge loans originated by CoreVest, potentially financing over $1 billion.
The joint venture between Redwood Trust and Oaktree Capital Management will enhance Redwood's ability to provide solutions to a broad spectrum of real estate investors. This partnership is expected to drive growth in CoreVest's top-tier bridge lending platform, which will likely have a positive impact on Redwood Trust's stock price in the short term.
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