trending Market Intelligence /marketintelligence/en/news-insights/trending/BHIBnNuuWo0YQveEG6OM3w2 content esgSubNav
In This List

Redwood Trust to acquire CoreVest American Finance

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks


Redwood Trust to acquire CoreVest American Finance

Redwood Trust Inc. agreed to acquire CoreVest American Finance Lender LLC and several of its affiliates from certain affiliates of Fortress Investment Group LLC's credit funds business and CoreVest Management Partners LLC.

Consideration for the acquisition is approximately $490 million, net of in-place financing on the financial assets. The amount will be funded with a mix of cash on hand and shares of Redwood's stock.

Under the deal, Redwood will acquire CoreVest's operating platform and assets, including its business-purpose loan portfolio and subordinate bonds from the company's sponsored securitizations. The acquisition includes CoreVest's operating platform and over $900 million of related financial assets.

The acquisition is expected to close within the next two to three business days.