Ready Capital Announces Merger with Owens Realty Mortgage
Vinson & Elkins advised the Special Committee of the Board of Directors of Owens Realty Mortgage, a specialty finance REIT that focuses on the origination, investment and management of small-balance and middle-market commercial real estate loans, in a definitive merger agreement with Ready Capital Corporation, a multi-strategy real estate finance company that originates, acquires, finances and services small to medium-sized balance commercial loans, to combine in a stock-for-stock merger.
The combined company, which will operate under the name Ready Capital, is expected to have pro forma equity capital in excess of $750M.
The V&E corporate team was led by partners Greg Cope and Steve Gill with senior associate Doug Boyle and associates Caroline Bailey and Dylan Coons. Also advising were partner Chris Mangin and associates Paige Anderson and Virginia Blanton; partner David D’Alessandro and associate Steven Oyler; and senior associate Doug Lionberger.
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