Announced
Completed
Synopsis
New York Mortgage Trust, a residential real estate investment trust, completed the acquisition of the remaining 50% stake in Constructive Loans, a business purpose loan lender specializing in rental and transitional loans for real estate investors. Financial terms were not disclosed. “We are excited to take the next steps in our partnership with the talented team at Constructive. We believe that the acquisition of Constructive represents a step forward towards raising and diversifying the Company’s recurring income. This transaction appreciably expands NYMT’s presence within the residential credit markets and supports our core strategy of investing in business purpose loans,” Jason Serrano, New York Mortgage Trust CEO.
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