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Related Cos. has picked up $80M of stock in Ladder Capital, a New York-based REIT that has been a major lender to the Trump Organization.
The stock was bought from pre-IPO shareholders in the firm through Related Real Estate Fund II, an opportunity fund with more than $1B in equity commitments, according to The Real Deal.
Rumors had circulated recently that Ladder, which has a market cap of $1.7B, was up for sale.
Over its roughly 10 years in existence, the firm has lent the Trump Organization over $250M, including a $160M loan for the ground lease at 40 Wall St. Deutsche Bank is the only lender that holds more Trump Organization debt, with over $350M.
The bank has undertaken a process of restructuring much of that debt to help it avoid possible conflicts of interest involving the new administration.
Related gets a seat on Ladder’s board as part of the deal.
