Rithm Capital, Great Ajax Enter Strategic Transaction; Great Ajax Enters One-year Term Loan Agreement With Subsidiary Of Rithm For Up To $70M
Portfolio Pulse from Benzinga Newsdesk
Rithm Capital and Great Ajax have announced a strategic transaction, with Great Ajax also entering a one-year term loan agreement with a Rithm subsidiary for up to $70M. This deal, pending shareholder approval, includes a management agreement where a Rithm affiliate will serve as the external manager for Great Ajax, aiming to pivot its strategy towards commercial real estate investments.
February 26, 2024 | 10:58 pm
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POSITIVE IMPACT
Great Ajax enters a strategic transaction with Rithm Capital, including a one-year term loan agreement for up to $70M, and a management agreement to shift its focus towards commercial real estate investments.
The strategic transaction with Rithm Capital, including the loan agreement and the shift towards commercial real estate investments under new management, presents a significant opportunity for Great Ajax to diversify and strengthen its investment portfolio. This is likely to be viewed positively by investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Rithm Capital enters a strategic transaction with Great Ajax, including a $70M loan agreement to Great Ajax, and a management agreement pending shareholder approval.
The strategic transaction and loan agreement with Great Ajax signify a positive development for Rithm Capital, likely enhancing its investment portfolio and management capabilities in the commercial real estate sector. This could lead to improved financial performance and investor sentiment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80