Arlington, Virgnia-based EJF Capital LLC has completed a $100 million securitization transaction for Third Coast Bank, a Texas banking association and wholly owned bank subsidiary of Third Coast Bancshares, Inc.
Third Coast Bank originated a $200 million revolving commercial real estate loan made to one of America’s largest private investment firms focused on real estate development. The mortgage Loan is secured by interests in a portfolio of eleven residential master-planned communities under development in Texas.
“The transaction will help to reduce the bank’s risk-weighted assets and diversify its on-balance sheet loan portfolio,” said Manny Friedman, Co-Founder and Co-Chief Executive Officer of EJF. “EJF is proud to serve as a flexible capital solutions provider while working with U.S. bank management teams to develop constructive de-risking solutions.”
Mayer Brown LLP acted as legal counsel to EJF Capital and its affiliates on these transactions. Cadwalader, Wickersham & Taft LLP acted as legal counsel to Third Coast Bank on these transactions.
The post EJF Capital, Third Coast Bank Close $100M CRE Deal appeared first on Connect CRE.
