Real estate investment trust (REIT) that focuses on acquiring, investing in, and managing a portfolio of residential mortgage loans.
Great Ajax Corp. is a real estate company that specializes in acquiring, investing in, and managing a diverse portfolio of residential and small balance commercial mortgage loans. The company's focus extends to holding real estate owned (REO) properties, which are acquired through foreclosure or other settlement processes of its non-performing loans, as well as through direct purchases.
In addition to its residential mortgage activities, Great Ajax Corp. acquires and originates small balance commercial (SBC) loans. These SBC loans are secured by multi-family residential properties and mixed-use retail/residential properties. The company's investment strategy also includes acquiring single-family homes and smaller commercial properties through foreclosure events or direct acquisitions.
Great Ajax Corp. has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. As a REIT, the company benefits from favorable tax treatment, provided it distributes at least 90% of its taxable income to stockholders. This tax status helps the company to maximize returns to its investors by minimizing its federal corporate income tax liabilities.
Incorporated in 2014, Great Ajax Corp. is headquartered in Tigard, Oregon. The company's strategic approach to real estate investment and management has enabled it to build a robust portfolio, catering to both residential and commercial markets. Its focus on distressed and value-added properties positions it as a significant player in the real estate sector.