Global Legal Chronicle | J.P. Morgan Real Estate Income Trust’s $5 Billion IPO

Alston & Bird acted as counsel to J.P. Morgan Real Estate Income Trust Inc., a newly organized corporation formed to invest primarily in stabilized, income-generating real properties, in its $5 billion initial public offering of common stock.

Alston & Bird client Brookfield Asset Management Inc. has completed the transition to advising Brookfield Real Estate Income Trust Inc. (formerly Oaktree Real Estate Income Trust Inc.), a public, non-listed real estate investment trust (REIT) formerly overseen by subsidiary Oaktree Capital Management. The total asset value of the REIT is approximately $1 billion.

Alston & Bird client Ready Capital Corporation, an industry-leading mortgage real estate investment trust (REIT), has signed a definitive merger agreement to combine with Anworth Mortgage Asset Corporation, a specialty finance REIT.

Alston & Bird represented Ready Capital Corporation, a New York–based multistrategy real estate finance company, in its $787 million acquisition of Broadmark Realty Capital, a Washington-based company specializing in owning, developing, and managing real estate properties.

Alston & Bird acted as counsel to the special committee of Terra Property Trust in closing its merger with Terra Income Fund 6, pursuant to which Terra Property Trust has acquired Terra Income Fund 6 in a combination valued at approximately $350 million. The combined company will continue to operate under the name Terra Property Trust Inc. and will remain headquartered in New York City.