ATLANTA, July 7, 2015 /PRNewswire/ -- Invesco Mortgage Capital Inc. (NYSE :IVR ) is pleased to announce the closing of a commercial real estate loan investment. IVR provided an approximately $21 million mezzanine loan secured by a pledge of the equity interests in a luxury Florida hotel asset which will facilitate the recapitalization of the property. The transaction is structured with a floating interest rate and a term of three years, with two one-year extension options.
Commenting on the transaction, Kevin Collins, managing director and head of commercial mortgage credit, said: "This marks IVR's ninth direct floating rate financing. We look forward to continuing our search for attractive risk-adjusted unlevered returns in this sector of mortgage market."
About Invesco Mortgage Capital Inc.
Invesco Mortgage Capital Inc. is a real estate investment trust that focuses on financing and managing residential and commercial mortgage-backed securities and mortgage loans. Invesco Mortgage Capital Inc. is externally managed and advised by Invesco Advisers, Inc., a subsidiary of Invesco Ltd. (NYSE :IVZ ), a leading independent global investment management firm. Additional information is available at www.invescomortgagecapital.com.
SOURCE Invesco Mortgage Capital Inc.