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Invesco Mortgage Capital Inc.
IVR is pleased to announce the closing of a commercial real estate loan investment. IVR provided an approximately $21 million mezzanine loan secured by a pledge of the equity interests in a luxury Florida hotel asset which will facilitate the recapitalization of the property. The transaction is structured with a floating interest rate and a term of three years, with two one-year extension options.
Commenting on the transaction, Kevin Collins, managing director and head of commercial mortgage credit, said: "This marks IVR's ninth direct floating rate financing. We look forward to continuing our search for attractive risk-adjusted unlevered returns in this sector of mortgage market."
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