IPO - Profile

Claros Mortgage Trust, Inc.

Finance > Real Estate

CMTG

Summary

Offer Price Offer Size 3-Year Outlook Volatility First Day Turnover
$18.65 5,500,000 Positive High 58.94%

Offering Team

  • Legal counsel
  • Sidley Austin LLP
  • Auditors
  • PricewaterhouseCoopers LLP

Deal Highlights

You should read the following discussion in conjunction with the sections of this prospectus entitled “Risk Factors,” “Forward-Looking Statements,” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” This discussion contains forward-looking statements reflecting current expectations that involve risks and uncertainties. Actual results and the timing of events may differ materially from those contained in these forward-looking statements due to a number of factors, including those discussed in the section entitled “Risk Factors” and elsewhere in this prospectus. We are a CRE finance company focused primarily on originating senior and subordinate loans on transitional CRE assets located in major U.S. markets. Transitional CRE assets are properties that require repositioning, renovation, rehabilitation, leasing, development or redevelopment or other value-added elements in order to maximize value. We believe our Sponsor’s real estate development, ownership and operations experience and infrastructure differentiates us in lending on these transitional CRE assets. Our objective is to be a premier provider of debt capital for transitional CRE assets and, in doing so, to generate attractive risk-adjusted returns for our stockholders over time, primarily through dividends. We strive to create a diversified investment portfolio of CRE loans that we generally intend to hold to maturity. Upon completion of this offering, we expect to be one of the largest public commercial mortgage REITs in the U.S., based on total stockholders’ equity. From our inception in August 2015 through June 30, 2021, we have raised approximately $2.6 billion of equity capital and originated, co-originated or acquired 86 investments consisting of 131 loans on transitional CRE assets with aggregate loan commitments of approximately $11.5 billion. We have raised and invested significant institutional capital from major state and corporate pension funds, global insurance companies and leading investment managers, among others. We believe that these investors have been attracted to us by the experience of our team and our track record of disciplined underwriting and rigorous asset management. From our inception through June 30, 2021, 29 of the investments that we originated, representing aggregate loan commitments of $3.1 billion, have been repaid in full or sold, with no credit losses incurred and a realized gross internal rate of return of 13.2%. As of June 30, 2021, our loan portfolio was comprised of 56 loan investments consisting of 92 loans, representing aggregate loan commitments of $7.5 billion, remaining loan commitments (representing aggregate loan commitments less repayments received in respect thereof) of $7.3 billion and unpaid principal balance of $6.1 billion, and our stockholders’ equity was $2.5 billion, representing a book value of $18.76 per share of our common stock.

Deal Tracker

IPO Dates

Filing 26 Oct, 2021

Offer 03 Nov, 2021

Look Ahead

Lock Up Expiry May 03, 2022

IPO Terms

Offer Price $18.65
Offer Size 5M

Market Sentiments

Stock Price