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Great Ajax Corporation

Great Ajax Corporation is a Real Estate Investment Trust (“REIT”) focused primarily on acquiring, investing in and managing a portfolio of single-family re-performing and non-performing first lien mortgage loans (“RPLs” and “NPLs”). NPLs are loans that have gone delinquent. RPLs are loans that have gone delinquent for a period of time and subsequently the borrower began making payments again. Often, this is a result of the mortgages being modified (principal reduction, interest reduction, etc.). Through a 144A offering anchored by Flexpoint Ford, Great Ajax initially raised $135 million of equity for this strategy. Great Ajax acquires its loans through a proprietary network of banks, brokers, funds, and government auctions. Simultaneously, Flexpoint Ford made separate investments in Thetis Asset Management and Gregory Funding, respectively the external manager and servicer of Great Ajax.

Transaction Details:

Location: Beaverton, Oregon
Investment Date: 2014
Investment Status: current

Flexpoint Ford Team: