Ladder Closes $675 Million in New Unsecured Capital Commitments, Including Expansion of Revolver Capacity to $1.25 Billion
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unsecured revolving credit facilityfinancial
A revolving credit facility is a line of borrowing that a company can draw from, repay, and draw again up to a set limit; “unsecured” means the loans are not backed by specific assets as collateral. Investors care because it acts like a corporate credit card—giving short‑term cash flexibility to cover operations or unexpected needs—while signaling lenders’ confidence and affecting interest costs, default risk, and the company’s financial stability.
delayed draw term loanfinancial
A delayed draw term loan is a financing agreement that lets a borrower take one or more lump-sum loans from a lender at agreed future dates within a set time window instead of receiving all funds up front. It matters to investors because it changes when and how much debt a company will carry, affecting cash flexibility, interest costs and risk exposure—think of it like an approved credit line you only tap when you need cash for a project.
accordion featurefinancial
An accordion feature is a clause in a loan or financing agreement that allows a company to expand the size of a credit line or the amount of securities available under the same contract without drafting a completely new deal. Like a suitcase that can be extended to hold more items, it gives a company quick flexibility to raise extra money, which can help fund growth but may increase debt or dilute existing shareholders—so investors watch it for changes in risk and ownership.
sofrfinancial
The Secured Overnight Financing Rate (SOFR) is a market benchmark that measures the cost of borrowing cash overnight using U.S. Treasury securities as collateral. Investors watch SOFR because it acts like a speedometer for short-term interest costs—affecting loan rates, bond yields and the pricing of interest-rate contracts—so movements change borrowing expenses, cash returns and the value of interest-sensitive investments.
investment grade ratingsfinancial
A designation from a credit rater that indicates a borrower or bond has relatively low risk of failing to repay debt, similar to a high personal credit score for a company or government. It matters to investors because it influences how much interest a borrower pays, how safe a bond is considered, and which funds or rules allow holding it — affecting yield, price stability, and whether conservative portfolios will buy it.
revolving credit facilityfinancial
A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.
NEW YORK--(BUSINESS WIRE)--
Ladder Capital Corp (“Ladder,” the “Company,” “we” or “our”) (NYSE: LADR), a leading, investment grade-rated commercial real estate finance REIT, announced today that it has secured $675 million in new unsecured capital commitments. The capital commitments include a $400 million expansion of Ladder’s unsecured revolving credit facility capacity to $1.25 billion and a new unsecured delayed draw term loan facility that permits borrowings of up to $275 million. The revolving credit facility capacity increase fully exercises the facility’s “accordion” feature for revolving credit facilities. The amended credit agreement permits additional issuances of term loans of up to an aggregate of $500 million under a new “accordion” feature for term loan facilities.
The expanded unsecured revolving credit facility capacity provides Ladder with same-day access to additional capital at the facility’s attractive cost of 125 basis points over SOFR. The $275 million unsecured delayed draw term loan is priced at 140 basis points over SOFR, with a fully extended maturity of February 20, 2030, pricing step downs with credit rating upgrades, and a draw period through February 20, 2027.
In 2025, Ladder became the only commercial mortgage REIT to achieve investment grade ratings. Ladder is currently rated Baa3 from Moody’s Ratings and BBB- from Fitch Ratings, both with stable outlooks. In January 2026, S&P Global Ratings upgraded Ladder’s credit rating to BB+ with a stable outlook, one notch below investment grade.
This additional borrowing capacity further strengthens Ladder’s position as the only commercial mortgage REIT able to operate independently of third-party secured financing and the CLO markets. Ladder expects to deploy the additional capital to fund its growing origination pipeline.
“Having originated over $1.3 billion in loans since June 30, 2025, this capital strengthens our ability to continue expanding our loan originations, delivering tailored solutions to our clients and driving earnings growth for our shareholders,” said Brian Harris, Ladder’s Chief Executive Officer. “We thank our existing lending partners for their continued support and are pleased to welcome new participants to the syndicate.”
A total of 13 lenders participated. JPMorgan Chase Bank, N.A. (“JPMorgan”) is the Administrative Agent and Collateral Agent for the Amended Credit Facility. JPMorgan, Wells Fargo Bank, N.A., Bank of America, N.A., M&T Bank, Société Generale, Citibank, N.A., U.S. Bank, National Association, Barclays Bank PLC, Citizens Bank, N.A., The Huntington National Bank, Raymond James Bank, Deutsche Bank, AG New York Branch and Pinnacle Bank are acting as lenders under the revolving credit facility. JPMorgan, Wells Fargo Bank, N.A., M&T Bank, U.S. Bank, National Association, Citizens Bank, N.A., The Huntington National Bank and Pinnacle Bank are acting as lenders under the delayed draw term loan facility.
Kirkland & Ellis LLP served as legal counsel to the Company.
About Ladder
Ladder is a publicly listed, investment grade-rated commercial real estate finance company with a diversified, nationwide platform. We deliver tailored capital solutions across the commercial real estate landscape, with a focus on the middle market. Our investment objective is to preserve and protect shareholder capital while generating attractive, risk-adjusted returns.
Since our founding in 2008, Ladder has deployed more than $50 billion of capital across the real estate capital stack, serving both institutional and middle-market clients. Our primary business is originating fixed and floating rate first mortgage loans collateralized by all major commercial property types. As the only permanently capitalized commercial mortgage REIT with true autonomy from third-party secured financing, Ladder delivers certainty of execution. In addition, we own and operate predominantly net leased, income-producing real estate and invest in investment grade securities secured by first mortgage loans on commercial real estate.
Ladder is internally managed and led by a seasoned management team with deep industry expertise. With over 11% insider ownership, Ladder’s management and board of directors are collectively the Company’s largest shareholder, ensuring strong alignment with the interests of all stakeholders. Since inception, Ladder has maintained a conservative and durable capital structure - a strategy reflected in its investment grade credit ratings of Baa3 from Moody’s Ratings and BBB- from Fitch Ratings, both with stable outlooks.
The Company is headquartered in New York City, with a regional office in Miami, Florida. All data is as of December 31, 2025.
Forward-Looking Statements
Certain statements in this release may constitute “forward-looking” statements, including those regarding the Facility and expectations related to the Facility’s impact on the Company’s financial condition, the Company’s investment grade credit ratings and any potential future change in those credit ratings, the impact of macroeconomic factors beyond the Company’s control, including changes in interest rates and the Company’s strategic plans and objectives. These forward-looking statements are based on management’s current opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results. These forward-looking statements are only predictions, not historical fact, and involve certain risks and uncertainties, as well as assumptions. Actual results, levels of activity, performance, achievements and events could differ materially from those stated, anticipated or implied by such forward-looking statements. While Ladder believes that its assumptions are reasonable, it is very difficult to predict the impact of known factors, and, of course, it is impossible to anticipate all factors that could affect actual results on the Company’s business. There are a number of risks and uncertainties that could cause actual results to differ materially from forward-looking statements made herein including, most prominently, the Company’s investment grade credit ratings and any potential future change in those credit ratings and other market trends in the Company’s industry, interest rates and real estate values and the risks discussed under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, as well as its consolidated financial statements, related notes, and other financial information appearing therein, and its other filings with the U.S. Securities and Exchange Commission. Such forward-looking statements are made only as of the date of this release. Ladder expressly disclaims any obligation or undertaking to release any updates or revisions to any forward-looking statements contained herein to reflect any change in its expectations with regard thereto or changes in events, conditions, or circumstances on which any such statement is based.
