Granite Point Mortgage Trust, a Pine River-managed mortgage REIT focused on commercial real estate debt, filed on Wednesday with the SEC to raise $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we believe could raise more.
The New York, NY-based company was formed in 2017 and booked $58 million in historical revenue for the 12 months ended March 31, 2017. It plans to list on the NYSE under the symbol GPMT. Granite Point Mortgage Trust filed confidentially on April 20, 2017. J.P. Morgan, Morgan Stanley and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.
