Ladder Capital, an investment grade-rated commercial real estate finance REIT, announced it has secured $675 million in new unsecured capital commitments, including an expansion of its revolving credit facility and a new delayed draw term loan facility.
The commitments include a $400 million increase in the company’s unsecured revolving credit facility capacity, bringing the total to $1.25 billion. The expansion fully exercises the facility’s accordion feature for revolving credit facilities. The amended credit agreement also allows for additional issuances of term loans of up to an aggregate of $500 million under a new accordion feature for term loan facilities.
The expanded revolving credit facility provides same-day access to capital priced at 125 basis points over SOFR. In addition, Ladder entered into a new unsecured delayed draw term loan facility permitting borrowings of up to $275 million. The term loan is priced at 140 basis points over SOFR and carries a fully extended maturity of February 20, 2030. The facility also includes pricing step-downs tied to potential 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. The company is currently rated Baa3 by Moody’s Ratings and BBB- by 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.
According to the company, the additional borrowing capacity enhances its ability to operate independently of third-party secured financing and collateralized loan obligation markets. Ladder expects to deploy the added capital to support its growing loan origination pipeline, having originated more than $1.3 billion in loans since June 30, 2025.
Founded in 2008, Ladder has deployed more than $50 billion of capital across the real estate capital stack. The company originates fixed and floating rate first mortgage loans secured by major commercial property types, owns and operates predominantly net leased income-producing real estate, and invests in investment grade securities backed by first mortgage loans on commercial real estate. Headquartered in New York City, with a regional office in Miami, Ladder is internally managed and reports more than 11% insider ownership among management and board members as of December 31, 2025.
A total of 13 lenders participated in the transaction. JPMorgan Chase Bank, N.A. is serving as Administrative Agent and Collateral Agent for the amended credit facility. Other lenders under the revolving credit facility include Wells Fargo Bank, N.A., Bank of America, N.A., M&T Bank, Société Générale, 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. Several of these institutions are also acting as lenders under the delayed draw term loan facility. Kirkland & Ellis LLP served as legal counsel to the company.
KEY QUOTE:
“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. We thank our existing lending partners for their continued support and are pleased to welcome new participants to the syndicate.”
Brian Harris, Chief Executive Officer of Ladder Capital Corp
