Law360 | REIT Fights to Salvage Merger from Competing Bid

Alston & Bird represented Terra Property Trust, an externally managed real estate investment trust (REIT) that originates, invests in, and manages loans and assets secured by commercial real estate, in its definitive merger agreement with Western Asset Mortgage Capital Corporation, an externally managed REIT that invests in, finances, and manages a portfolio of real-estate-related securities, whole loans, and other financial assets.

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.

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 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 represented an underwriting syndicate led by Wells Fargo, JP Morgan, PNC Capital Markets LLC, US Bancorp, and Citigroup on a $350 million investment-grade bond offering by Essex Property, a leading multifamily real estate company.