MARKET REPORT
AG Mortgage Investment Trust to buy Cherry Hill Mortgage for $117.5 million
Executive takeaway
MITT agreed to acquire Cherry Hill Mortgage in a deal valued at $117.5 million, continuing consolidation among small mortgage REITs.
AG Mortgage Investment Trust said it will acquire Cherry Hill Mortgage Investment Corp. in a transaction valued at $117.5 million.
The deal adds scale to MITT's portfolio and removes another sub-scale mortgage REIT from the public market, a segment where fixed costs weigh heavily on small managers.
Terms beyond the headline value were not detailed in the reporting reviewed.
Wire sources cited
- Investing.com — All NewsMITT to acquire Cherry Hill Mortgage in $117.5 million dealExternal ↗
Produced automatically by the INDY NEWS Desk from the public wire sources cited above, and checked against them before publication. Market commentary, not investment advice.