TPG Mortgage Investment Trust agrees to buy Cherry Hill in stock-and-cash deal valued at USD 3.1 a share

The pro forma ownership split is expected to be about 73% for MITT shareholders and 27% for CHMI shareholders.

The combined investment portfolio is projected at USD 9 billion, with annual operating efficiencies estimated at USD 7 million to USD 9 million.

TPG Mortgage Investment Trust will acquire Cherry Hill Mortgage Investment in a stock-and-cash deal valued at USD 3.1 per CHMI share.

CHMI holders are expected to receive 0.31 MITT shares and USD 0.93 cash per share, implying a 29% premium to CHMI’s Aug. 7 close.

The transaction is expected to close in Q4 2026, subject to MITT and CHMI shareholder approvals and other customary conditions.