Rithm Property Trust launches common stock offering to fund multifamily transition loan portfolio purchase
RPT•Use of proceeds
Net proceeds are earmarked to buy a portfolio of multifamily residential transition loans from Rithm Capital affiliates.
Funding plan also includes available cash and borrowings under the company’s master repurchase facility for additional investments and general corporate purposes.
Common stock offering and private placement interest
Rithm Property Trust launched a public offering of common stock, including a 30-day option for underwriters to buy up to 15% more shares.
An affiliate of Rithm Capital signaled interest in a concurrent private placement of common stock, or non-voting convertible preferred stock in certain cases.
