Nareit is pleased to welcome a new corporate member.
Great Ajax Corp. (NYSE: AJX) is an externally managed REIT that acquires, invests in, and manages a portfolio of mortgage loans secured by single-family residences and single-family properties. The REIT also invests in loans secured by multi-family residential and commercial mixed-use retail/residential properties. In addition, it holds real-estate owned (REO) properties acquired upon foreclosure, other settlement of owned non-performing loans, or that it acquires in the market. These are principally single-family homes, although the REIT also owns smaller commercial properties.
Great Ajax Corp. opportunistically determines whether to sell any REO asset, sometimes offering mortgage financing to the purchaser, or to hold the REO as a rental property. It believes that its tailored approach to each asset it acquires will generate attractive risk-adjusted returns for its stockholders over the long term through dividends and capital appreciation.
(Contact: Afia Nyarko Boone at aboone@nareit.com and Katelyn Rowland at krowland@nareit.com)