Red Bank-based ZAIS Financial Corp. announced today it has acquired a residential mortgage loan portfolio with an unpaid principal balance of approximately $167.8 million, utilizing approximately $98.7 million of its financing facility with Citibank, N.A. to fund a portion of the purchase price.
ZAIS is an externally managed and advised real estate investment trust that manages a diversified portfolio of residential mortgage assets, real estate-related securities and financial assets.
The purchase comes on the heels of the company’s cash dividend of 45 cents per share of its common stock, declared in June.
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