Skip to main content

PIMCO Announces the Formation of New Mortgage REIT

NationalMortgageProfessional.com
Apr 07, 2011

Pacific Investment Management Company (PIMCO) has announced the formation of a new real estate finance company that intends to acquire residential and commercial real estate-related debt. To be called PIMCO REIT Inc., the Newport Beach, Calif.-based company has filed documents with the U.S. Securities & Exchange Commission (SEC) requesting approval to raise $600 million through a public offering of common stock that will trade on the New York Stock Exchange (NYSE). Jennifer Bridwell, who leads PIMCO’s mortgage-related product development efforts, will serve as chief executive officer of the new REIT. Founded in 1971, PIMCO manages investments totaling more than $1.2 trillion as of Dec. 31, 2010. That figure included securitized holdings of more than $372 billion, of which $46.9 billion were in dedicated  directly to mortgage and real estate-related strategies. PIMCO’s other assets consisted of $268.6 billion in residential mortgage-backed securities (RMBS) and $81.6 billion in mortgage credit holdings such as non-agency RMBS and commercial mortgage-backed securities (CMBS).
Published
Apr 07, 2011
PenFed CU Sees Record Annual Mortgage Lending Volume

PenFed Credit Union announced it's financial highlights from 2021 which includes record annual mortgage lending volume.

Industry News
Jan 21, 2022
Angel Oak Lending Platform Reveals Record-Setting 2021

Last year was a record-setting year for many companies in the mortgage lending space, especially for the Angel Oak lending platform that consists of Angel Oak Mortgage Solutions and Angel Oak Home Loans.

Non-QM
Jan 21, 2022
What Are The Biggest Deal-Breakers For Homebuyers?

The housing market is holding strong but that doesn't mean homebuyers don't have their fair share of deal-breakers when it comes to purchasing a home.

Analysis and Data
Jan 20, 2022
Popular Bank Names National Director Of Residential Lending

Popular Bank named Adam Dejak as its national director of residential lending for Popular Mortgage.

Industry News
Jan 20, 2022
Total Expert Appoints Gaydos As President

Former Talkdesk and SAP senior executive brings extensive cloud, go-to-market, sales, and operations experience.

Industry News
Jan 20, 2022
Sagent Appoints Thompson As Chief Product Officer

Founder of fintech managment consulting firm Consigliera will lead and expand product development.

Industry News
Jan 20, 2022