Claros Mortgage Trust files for IPO

Offerings to be listed on the New York Stock Exchange

Claros Mortgage Trust files for IPO

Claros Mortgage Trust (CMTG), an investment trust originating commercial real estate mortgage loans, has filed for an initial public offering of its shares.

Based on documents submitted to the Securities and Exchange Commission, CMTG will be selling seven million shares of its common stock priced between $18.65 and $19.65 apiece. The company will also grant underwriters a 30-day option to purchase up to an additional 1.05 million shares of its common stock.

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CMTG said it will use the net proceed from the IPO to originate, co-originate, and acquire senior and subordinate loans on transitional CRE properties, or for general corporate and working capital purposes.

The firm has applied to list its common stock on the New York Stock Exchange under the symbol CMTG.

Morgan Stanley and J.P. Morgan are acting as joint lead book-running managers for the offering. Goldman Sachs & Co. LLC, Deutsche Bank Securities, UBS Investment Bank, Wells Fargo Securities, JMP Securities and Keefe, Bruyette & Woods, A Stifel Company are also acting as joint book-running managers.

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