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Claros Mortgage Trust Priced, NYSE: CMTG

Commercial mortgage REIT focused on transitional commercial real estate assets.

Industry: Financials

Latest Trade: $8.89 0.00 (0.0%)

First Day Return: -8.8%

Return from IPO: -52.3%

Industry: Financials

We are a CRE finance company focused primarily on originating senior and subordinate loans on transitional CRE assets located in major U.S. markets. Transitional CRE assets are properties that require repositioning, renovation, rehabilitation, leasing, development or redevelopment or other value-added elements in order to maximize value. We believe our Sponsor’s real estate development, ownership and operations experience and infrastructure differentiates us in lending on these transitional CRE assets. Our objective is to be a premier provider of debt capital for transitional CRE assets and, in doing so, to generate attractive risk-adjusted returns for our stockholders over time, primarily through dividends. We strive to create a diversified investment portfolio of CRE loans that we generally intend to hold to maturity. Upon completion of this offering, we expect to be one of the largest public commercial mortgage real estate investment trusts in the U.S., based on total stockholders’ equity. From our inception in August 2015 through June 30, 2021, we have raised approximately $2.6 billion of equity capital and originated, co-originated or acquired 86 investments consisting of 131 loans on transitional CRE assets with aggregate loan commitments of approximately $11.5 billion.
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IPO Data
IPO File Date 10/08/2021
Offer Price $18.65
Price Range $18.65 - $19.65
Offer Shares (mm) 5.5
Deal Size ($mm) $103
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 11/02/2021
Offer Price $18.65
Price Range $18.65 - $19.65
Offer Shares (mm) 5.5
Deal Size ($mm) $103
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
Morgan Stanley
J.P. Morgan
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Company Data
Headquarters New York, NY, United States
Founded 2015
Employees 0
Website www.clarosmortgage.com

Claros Mortgage Trust (CMTG) Performance