Related bids for Trump’s favorite lender

Related Fund Management launched a bid to buy Ladder Capital for $15 per share.

The subsidiary of Hudson Yards developer Related Companies already owns 8.2 percent of Ladder’s shares and would buy the remaining 91.8 percent under the proposed deal, taking the commercial real estate lender private.

Ladder, a publicly traded real estate investment trust, has $5.9 billion in assets, CoStar reported. The firm is famous for lending more than $250 million to President Trump’s entities over the years. It currently holds a $160 million leasehold mortgage on Trump’s 40 Wall Street and a $100 million loan backed by Trump Tower.

Related made its first investment in Ladder in February, buying $80 million in shares. If it buys the rest, the fund manager would effectively become one of the president’s key lenders.

Ladder Capital said it is reviewing the offer, CoStar reported. The lender has a current market cap of around $1.61 billion. [CoStar] — Konrad Putzier