KKR, a global investment firm, has acquired Merchants Mortgage Trust & Corp. LLC, a real estate lending platform focused on short-term mortgage products for residential real estate investors.
The deal provides MMTC with long-term capital to grow its origination activity and support expansion of products, geographic footprint and financing capabilities. MMTC is an originator of residential bridge loans for private investors used for property rehabilitation. The firm operates across the western U.S. in Colorado, Arizona and California. In 2021, the firm has expanded its lending activity to over $500 million in originated loans to over 500 borrowers.
“By enabling entrepreneurs to invest in residential real estate, MMTC is contributing to the long-term resilience of the U.S. housing market, which we are excited to support through our ABF strategy,” said Daniel Pietrzak, partner and co-head of Private Credit at KKR. “We look forward to working with the Company’s talented management team as they continue to grow MMTC’s already strong market presence in the U.S.”
Hovde Group and Wells Fargo served as financial advisors to MMTC and Otteson Shapiro LLP and Hunton Andrews Kurth acted as legal advisors. Sidley Austin LLP served as legal counsel to KKR.