**EJF Capital and Third Coast Bank Close $100M Commercial Real Estate Deal**
Arlington, Virginia-based EJF Capital LLC has successfully completed a $100 million securitization transaction for Third Coast Bank, a Texas banking association and wholly owned subsidiary of Third Coast Bancshares, Inc.
The transaction stems from a $200 million revolving commercial real estate loan originated by Third Coast Bank. The loan was extended to one of the nation’s largest private real estate investment firms and is secured by interests in a portfolio comprising eleven residential master-planned communities currently under development across Texas.
“The transaction will help to reduce the bank’s risk-weighted assets and diversify its on-balance sheet loan portfolio,” said Manny Friedman, Co-Founder and Co-Chief Executive Officer of EJF Capital. “EJF is proud to serve as a flexible capital solutions provider while working with U.S. bank management teams to develop constructive de-risking solutions.”
Mayer Brown LLP served as legal counsel to EJF Capital and its affiliates, while Cadwalader, Wickersham & Taft LLP represented Third Coast Bank in the transaction.
