REITs

They have a range of positions in the mortgage market; and some investors believe they could be bought at a discount now, potentially gaining value later when interest rate stability returns.

The move follows two consecutive quarterly losses for the REIT and comes just days after its sister non-QM lending business laid off 20% of its staff.

The mortgage REIT announced its name change in conjunction with the internalization of management activities.

The deal gives Blackstone a portfolio of 42 garden-style apartment communities totaling more than 12,600 units in 13 states, including Texas, Arizona, Florida, Colorado and Georgia.

Blackstone Inc. has agreed to acquire Bluerock Residential Growth REIT Inc. in a deal valued at $3.6 billion, extending its push into U.S. rental housing.

The real estate investment trust has been buying residential business-purpose loans from the company since 2017.

The former No. 2 at Countrywide had been battling brain cancer prior to passing away from the coronavirus.

The three-year loan will boost the hotel-centered REIT's dwindling cash reserves battered by the COVID-19 global impact on travel.

The pool of 359 loans also on average carry higher balances (over $900,000) compared to the REIT's earlier pass-through deal this year.

The company, which earned $535 million in net income in 3Q20, has been prioritizing purchase volume and managing costs to account for a possible decline in originations next year.