GoldenTree Asset Management has agreed to buy the assets of Origen Financial, a real estate investment firm, for $47 million.
Under the agreement, GoldenTree will assume Origen's securitization financing. Origen primarily manages securitized manufactured housing loan portfolios.
When the sale closes, Origen intends to dissolve and liquidate, the company said in a press release Tuesday.
"We believe that this sale to GoldenTree is the best way to capitalize on the current value of our assets for Origen's stockholders," said Ronald Klein, chief executive at Origen, in the release.
GoldenTree, which specializes in corporate and structured credit markets, is based in New York. Origen is based in Southfield, Mich.
