Rithm Capital provides Great Ajax Corp. a $70M loan and a management agreement for commercial real estate focus, while Great Ajax issues $14M common stock to Rithm, pending stockholder approval.

Rithm Capital and Great Ajax Corp. have entered into a strategic transaction, with Great Ajax securing a $70M one-year term loan from Rithm to repay convertible notes, and entering a management agreement with an Rithm affiliate. Great Ajax plans to shift its focus to capitalize on commercial real estate opportunities and has issued $14M in common stock to Rithm. The deal is subject to Great Ajax stockholder approval.