Cooley Advises Underwriters on Mortgage REIT Equity Offerings

Syndicate representation in offerings by AGNC Investment Corp and Arbor Realty Trust highlight broad capabilities of Cooley’s capital markets group

New York – May 17, 2017 – Cooley advised underwriting syndicates in two recent public equity offerings by leading mortgage real estate investment trusts (REITs): AGNC Investment’s $507.2 million offering of 24,500,000 shares of common stock, which closed on May 5, and Arbor Realty Trust’s $77.9 million offering of 9,500,000 shares of common stock, which closed on May 16.

Cooley represented JP Morgan, Citigroup, Credit Suisse and Goldman Sachs & Co as joint book-running managers for the AGNC offering. AGNC is an internally managed REIT that invests primarily in agency pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a US government agency or a US government-sponsored entity. The Cooley team for the AGNC transaction was led by Daniel Goldberg, Josh Kaufman and Div Gupta, and included Lesse Castleberry as tax counsel.

Cooley represented JP Morgan, Deutsche Bank Securities and JMP Securities as joint book-running managers for the Arbor offering. Arbor Realty Trust is a REIT and national direct lender specializing in loan origination and servicing for multifamily, seniors housing, healthcare and other diverse commercial real estate assets. The Cooley team for the Arbor transaction was led by Daniel Goldberg and Josh Kaufman, and also included Lesse Castleberry as tax counsel.

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Related Contacts
Daniel I. Goldberg Partner, New York
Josh Kaufman Partner, New York
Div Gupta Partner, New York
Lesse Castleberry Senior Counsel, New York
Related Practices & Industries

Capital Markets Tax