trending Market Intelligence /marketintelligence/en/news-insights/trending/4E9kFtl8Ij4c4udyKdtX2A2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

$3M termination fee set for Redwood Trust-CoreVest American Finance deal

Blog

Banking Essentials Newsletter - February Edition, Part 2

Blog

Street Talk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Podcasts

StreetTalk – Episode 74: Investor sees legs in strong credit performance, US bank stock rally

Blog

The Evolution of ESG Factors in Credit Risk Assessment: Environmental Issues


$3M termination fee set for Redwood Trust-CoreVest American Finance deal

A termination fee of $3 million has been set for the agreement of specialty firm Redwood Trust Inc. to buy real estate lender CoreVest American Finance Lender LLC and several of its affiliates from CoreVest Management Partners LLC and from certain affiliates of Fortress Investment Group LLC's credit funds business.

The deal, which was announced Oct. 14, was expected to be completed in two to three business days.

Redwood Trust would pay the sellers the termination fee if the sellers' representative validly terminates the purchase agreement. The fee shall be paid within three business days after the date of such termination to the sellers' representative.

Consideration for the acquisition was reported to be approximately $490 million at deal announcement, to be funded with a mix of cash on hand and Redwood stock.