Related Companies just won’t take no for an answer. After the development firm’s asset management arm saw a bid for Ladder Capital rejected, it is now moving on to Plan B and take over the mortgage real estate investment trust by other means.
Related is considering nominating new candidates to Ladder’s board in an attempt to get a deal approved, Bloomberg reported.
Related Fund Management already owns 6.5 percent of Ladder’s shares and offered to buy the remainder for almost $1.5 billion. Ladder rejected the offer in January.
Ladder is best known for lending to President Trump’s businesses and holds a $100 million mortgage on Trump Tower. [Bloomberg] — Konrad Putzier