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.
Digital content editor Joe Ross is @joeross on Twitter.
Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.View Comment Policy