RED BANK, N.J., June 3, 2013 /PRNewswire/ -- ZAIS Financial Corp. (NYSE: ZFC) ("ZAIS Financial" or the "Company") announced that it has closed a $150 million committed financing facility for the purchase of residential whole loans. The facility is in the form of a Master Repurchase Agreement with Citibank, N.A. The Company has utilized approximately $78.5 million of this facility to fund a portion of the purchase price of the May 31, 2013 acquisition of a residential mortgage loan portfolio with an unpaid principal balance of approximately $136.6 million. "We are pleased to have added whole loan financing capacity and also to have utilized a portion of that financing capacity to fund a portfolio purchase that moves us towards our long-term asset allocation target with respect to whole loans," said Michael Szymanski, President of ZAIS Financial.
About ZAIS Financial Corp.
ZAIS Financial Corp. is a real estate investment trust ("REIT") which invests in, finances and manages a diversified portfolio of residential mortgage assets, other real estate-related securities and financial assets. The Company is externally managed and advised by ZAIS REIT Management, LLC, a subsidiary of ZAIS Group, LLC. Additional information can be found on the Company's website at www.zaisfinancial.com.
SOURCE ZAIS Financial Corp.