NEW YORK--(BUSINESS WIRE)--Ladder Capital Corp (“Ladder” or the “Company”) (NYSE: LADR) is mindful of the impact the global COVID-19 pandemic has had on its employees, clients, financing partners and shareholders. The Company is providing a current update to all of its constituents regarding the steps Ladder has taken in response to the turbulent market conditions accompanying the spread of the virus. Ladder will continue to exercise appropriate caution as the Company endeavors to prudently navigate through this uncertain environment.
As of today, Ladder has over $300 million of cash after having just paid its previously announced quarterly cash dividend. The Company has also timely met all margin calls.
Consistent with Ladder’s long-standing philosophy of pro-actively managing risk, the Company recently engaged Moelis & Company LLC to evaluate financing alternatives to enable it to both navigate potential further market dislocations as well as take advantage of opportunities created by those dislocations.
Ladder Capital Corp (NYSE: LADR) is an internally-managed commercial real estate investment trust with over $6 billion of assets. Our investment objective is to preserve and protect shareholder capital while producing attractive risk-adjusted returns. As one of the nation’s leading commercial real estate capital providers, we specialize in underwriting commercial real estate and offering flexible capital solutions within a sophisticated platform.
Ladder originates and invests in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Our investment activities include: (i) our primary business of originating senior first mortgage fixed and floating rate loans collateralized by commercial real estate with flexible loan structures; (ii) investing in investment grade securities secured by first mortgage loans on commercial real estate; and (iii) owning and operating commercial real estate, including net leased commercial properties.
Founded in 2008, Ladder is run by a highly experienced management team with extensive expertise in all aspects of the commercial real estate industry, including origination, credit, underwriting, structuring, capital markets and asset management. Members of Ladder’s management and board of directors are highly aligned with the Company’s investors, owning over 10% of the Company’s equity. Led by Brian Harris, the Company’s Chief Executive Officer, Ladder is headquartered in New York City with regional offices in California and Florida.
Forward-Looking Statements & Coronavirus Risk
Certain statements in this release may constitute “forward-looking” statements. These statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical facts, and involve certain risks and uncertainties, as well as assumptions. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside the Company’s control, which could cause actual results to differ materially from the results contemplated by the forward-looking statements. These risks and uncertainties include the potential adverse effects of the ongoing global COVID-19 pandemic, including actions taken to contain or treat the virus, on the Company, its clients and the global economy and financial markets, as well as those set forth under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 and Ladder’s consolidated financial statements, related notes, and other financial information appearing in its Annual Report, and its other filings with the Securities and Exchange Commission.