ZAIS Closes $100 Million in Residential Loan Financing
ZAIS Financial Corp. has closed a $100 million financing agreement with Credit Suisse First Boston Mortgage Capital LLC to purchase whole residential loans.
The Red Bank, N.J.-based real estate investment trust that focuses on residential and other real estate-related assets said in a press release Friday that it has signed a committed financing facility with the bank, but did not disclose the interest rate or any other terms and conditions of the agreement.
The REIT said it will provide all the details of the master repurchase agreement with Credit Suisse in an upcoming filing with the Securities and Exchange Commission.
"We are pleased to have expanded our whole loan financing capacity which enables us to further advance our residential mortgage loan strategy," said Michael Szymanski, president of ZAIS Financial.
ZAIS is externally managed and advised by ZAIS REIT Management LLC.