This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

EllIngton Housing Completes Fundraising

OLD GREENWICH, Conn., April 1, 2013 /PRNewswire/ -- Ellington Housing Inc. ("EHI"), a private REIT formed to invest in residential real estate assets, today announced that it has completed an initial and add-on round of fundraising. EHI raised approximately $140 million following closings in January and March 2013 from institutions and other qualified investors, including an approximately $24 million investment by management.

Ellington Housing Inc. invests in single- and multi-family residential real estate assets that it believes will benefit from a housing recovery. It invests in two primary strategies: buying, renovating and renting single-family houses, and acquiring and resolving sub-performing small-balance multi-family mortgages. Currently, it owns or has under contract approximately 550 houses.

EHI is an affiliate of Ellington Management Group LLC ("EMG"), a private investment management firm founded in 1994 as an investor in the mortgage-backed securities market. As of February 2013, EMG and its affiliates employed 123 professionals, managed several hedge funds and private accounts, and had aggregate net assets under management of approximately $5.3 billion. EHI utilizes the capabilities of EMG as well as its proprietary analytics relating to the US housing and mortgage markets in identifying and evaluating investment opportunities.

"We are excited about the housing recovery investment opportunity," said Leo Huang, Chief Executive Officer of EHI. "We see an attractive opportunity for Ellington Housing in single- and multi-family housing and believe our mortgage expertise will help us to target and time markets."

SOURCE Ellington Housing Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs