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New York Mortgage Trust Enters Purchase Agreement with RiverBanc

(RESULTS DEPEND ON A VARIETY OF FACTORS UNIQUE TO EACH MATTER. PRIOR RESULTS DO NOT GUARANTEE OR PREDICT A SIMILAR OUTCOME.)

Vinson & Elkins advised New York Mortgage Trust, Inc. (NYMT) in its Membership Interest Purchase Agreement with the members of RiverBanc LLC. Pursuant to the agreement, NYMT will acquire the remaining 80% membership interests in RiverBanc for aggregate cash consideration of approximately $24 million.

NYMT is a real estate investment trust, or REIT, in the business of acquiring, investing in, financing and managing primarily mortgage-related assets and financial assets.

The V&E corporate team is led by partner Chris Green with assistance from senior associate Brittany Sakowitz and associates Raleigh Wolfe and Yong Eoh. Also advising are partners Chris Mangin, Stephen Jacobson and Sean Becker and associate Brian Russell.

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