Chicago-based special servicer Fay Servicing is hiring mortgage professionals in the greater Chicago area as part of a new...
More than 280 properties serving as collateral to 238 commercial-mortgage-backed securities loans are located in declared...
Western Asset Management, the fixed-income arm of Baltimore-based asset manager Legg Mason, disclosed terms of its initial public offering.
Western Asset Management is a real estate investment trust looking to raise $160 million by issuing 8 million shares at $20 each.
The REIT, which will trade on the New York Stock Exchange under the symbol WMC, will use proceeds to invest in mortgage-backed securities from Fannie Mae, Freddie Mac and Ginnie Mae.
If successful, Western Asset Management will be worth $207 million, however some recent REIT IPOs fell below expectation.
Ares Commercial Real Estate ($16.88 0.05%) priced an IPO late last week, raising $7.7 million of common stock at $18.50 per share. Original predictions were $19 to $20 per share.
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