- September 28, 2021
- Posted by: Stratford Team
- Category: Business
When the pandemic hit the commercial mortgage finance industry in the spring last year,
Ladder Capital Corp.’s
chief executive spent so much time glued to his desk at his home office he developed a rash on the back of his legs.
“I didn’t move from the chair in three days,” recalls the CEO,
Brian Harris.
His New York-based real estate investment trust looked vulnerable to Wall Street because of the large size of its real-estate securities portfolio, Mr. Harris said. Concerns about Ladder’s liquidity persisted even after the firm paid $100 million in margin calls to its funders, he added.
Today, Ladder and other so-called nonbank lenders are on track to have one of their biggest years for loan volume, according to analysts and industry executives. Ladder in the second quarter made $803 million in loans, mostly to developers needing so-called bridge capital to finance new…
