Ladder Capital, a commercial real estate mortgage origination and finance company, announced terms for its IPO on Tuesday. The New York, NY-based company plans to raise $225 million by offering 13.3 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Ladder Capital would command a fully diluted market value of $1.7 billion.
Ladder Capital, which was founded in 2013 and booked $322 million in sales for the 12 months ended September 30, 2013, plans to list on the NYSE under the symbol LADR. Ladder Capital initially filed confidentially on June 28, 2013. Deutsche Bank, Citi, Wells Fargo Securities, BofA Merrill Lynch and J.P. Morgan are the joint bookrunners on the deal.
