Ladder Capital(TM) Closes Four Commercial Real Estate Transactions Totaling Over $40 Million

NEW YORK, Feb. 25 /PRNewswire/ -- Ladder Capital Finance LLC (together with its affiliates, "Ladder Capital" or "the Company"), a leading commercial real estate finance company, announced today that the Company has closed on the following four commercial real estate transactions totaling over $40 million since the start of 2010:  

• A 5-year fixed rate financing of a 152,786 square foot Wal-Mart anchored retail location in Modesto, CA, totaling $16,250,000;
• A 5-year fixed rate financing of a 213,228 square foot office building located in St. Louis, MO, totaling $10,750,000;
• A 5-year fixed-rate financing of 2 Fresenius Medical Care distribution facilities located in California, totaling $6,090,000; and
• A 2-year floating rate financing of a 70,875 square foot retail building located in Aventura, FL, totaling $7,875,000.

Today's announcement marks a continuation of the Company's success in 2009, which saw Ladder Capital complete a number of significant commercial real estate market transactions and significantly grow its portfolio of assets.  Since its inception in November 2008, Ladder Capital has grown from 11 to 21 employees, including the appointment of four new originators and is continuing to expand its team of highly experienced industry veterans.

"Since we started Ladder Capital, we have been able to leverage our strong team, industry expertise and deep network of contacts to pursue a number of great opportunities in what has been a challenging industry environment.  We have maintained our lean operating model and therefore have been able to move quickly to provide the right financing to our clients and execute transactions in a timely manner," said Ladder Capital Chief Executive Officer, Brian Harris.  "We are very pleased with our performance to date and are well-positioned to continue to add to our diverse portfolio of commercial real estate mortgages."  

Greta Guggenheim, Ladder Capital's President and Head of Origination added, "Our team was able to draw on its industry relationships and expertise in all aspects of commercial real estate financing to successfully complete a variety of exciting transactions in 2009."

Select Ladder Capital transactions from 2009 include:

• A 5-year fixed-rate financing of 15 free standing CVS stores located in 11 states, totaling $33,068,100;
• A 2-year fixed-rate financing of 138 condominium units plus 24,448 square feet of a retail space in Pompano Beach, FL, totaling $28,200,000;
• An acquisition of a senior position secured by 16,987 square feet located in New York, NY, valued at $16,000,000;
• A 5-year fixed rate financing of a 278,738 square foot Wal-Mart anchored retail location in Winter Haven, FL, totaling $14,980,000;
• A 5-year fixed rate financing of a 135,355 square foot grocery anchored retail location in Glen Ellyn, IL, totaling $12,500,000; and
• A 2-year floating rate financing of a 272,673 square foot Wal-Mart anchored retail location in Greensburg, IN, totaling $10,153,000.

Ladder Capital continues to pursue select distressed debt opportunities resulting from the ongoing lack of liquidity in the market, while capitalizing on the Company's positive momentum and strong balance sheet to originate fixed-rate and interim floating-rate mortgages, junior interests in mortgages and mezzanine loans and commercial mortgage-backed securities.

About Ladder Capital

Ladder Capital is a specialty finance company that provides a comprehensive set of financing solutions to the commercial real estate industry. Through a fully integrated platform, Ladder Capital originates and invests in a diverse portfolio of real estate-related assets. Ladder Capital is comprised of an experienced team of senior managers, the core of whom have worked together previously in the commercial real estate industry, originating, underwriting, acquiring, structuring, managing and securitizing a diverse portfolio of commercial real estate mortgages, real estate and real estate-related assets through various economic cycles and market conditions. Ladder Capital is led by Brian Harris, the company's Chief Executive Officer.

SOURCE Ladder Capital Finance LLC