Redwood Trust Closes Previously Announced Acquisition Of 5 Arches
Redwood Trust, Inc. (RWT)
Last redwood trust, inc. earnings: 2/27 04:16 pm
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redwoodtrust.com/corporateprofile
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Source: PR Newswire
MILL VALLEY, Calif., March 6, 2019 /PRNewswire/ -- Redwood Trust, Inc. (NYSE: RWT), a leading innovator in housing credit investing, today announced that it has completed its acquisition of 5 Arches, LLC ("5 Arches"), an originator of business-purpose real estate loans. 5 Arches and its team of approximately 95 employees will operate as a wholly owned subsidiary of Redwood. 5 Arches is a business-purpose real-estate lending platform that has generated over $1.8 billion of originations since 2012. Consideration for the transaction was $50 million, payable in a mix of cash and Redwood common stock and inclusive of the $10 million in cash paid in May 2018 to purchase a 20% minority interest in the company. As part of its minority stake, Redwood procured an exclusive one-year option to purchase the remaining 80% of the 5 Arches platform. In January 2019, Redwood announced it had exercised this option and intended to close the transaction in the first quarter of 2019. "We are pleased to ha
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News
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RWT
Earnings
- 2/20/24 - Miss
RWT
Sec Filings
- 4/18/24 - Form 4
- 4/18/24 - Form 4
- 4/18/24 - Form 4
- RWT's page on the SEC website