Ellington Financial completed the merger with Arlington Asset Investment for $150m.

Ellington Financial, a real estate investment trust investing in a diverse array of financial assets including residential and commercial mortgage loans, completed the merger with with Arlington Asset Investment, a real estate investment trust that invests primarily in mortgage-related and other assets, for $150m. “We are extremely pleased to close the merger with Arlington. The transaction provides us not only with a significant portfolio of assets – particularly low-coupon mortgage servicing rights – that align well with our expertise and existing management platform, but also attractive long-term unsecured debt and preferred equity to further strengthen our balance sheet. This acquisition should lead to greater operating efficiencies and a larger market capitalization for Ellington Financial, and we believe that it positions us well to drive earnings accretion moving forward,” Laurence Penn, Ellington Financial CEO.