Ladder Capital Corp. Files 2024 10-K

Ticker: LADR · Form: 10-K · Filed: 2025-02-10T00:00:00.000Z

Sentiment: neutral

Topics: 10-K, real estate, REIT

TL;DR

Ladder Capital Corp. filed its 2024 10-K, detailing its financial performance for the year ending Dec 31, 2024.

AI Summary

Ladder Capital Corp. filed its 2024 10-K on February 10, 2025, reporting its financial performance for the fiscal year ending December 31, 2024. The company, a real estate investment trust, is headquartered at 320 Park Avenue, New York, NY. The filing details its operations and financial position for the period.

Why It Matters

This 10-K filing provides investors and analysts with a comprehensive overview of Ladder Capital Corp.'s financial health, operational performance, and strategic direction for the fiscal year 2024.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new risks beyond those typical for a publicly traded company in the real estate sector.

Key Players & Entities

FAQ

What is Ladder Capital Corp.'s primary business activity?

Ladder Capital Corp. is classified under Standard Industrial Classification code 6798, which corresponds to Real Estate Investment Trusts.

When did Ladder Capital Corp. file its 10-K report?

Ladder Capital Corp. filed its 10-K report on February 10, 2025.

What period does this 10-K filing cover?

This 10-K filing covers the fiscal year ending December 31, 2024.

Where is Ladder Capital Corp. headquartered?

Ladder Capital Corp.'s business and mail address is 320 Park Avenue, 15th Floor, New York, NY 10022.

What is the SEC file number for Ladder Capital Corp.'s 10-K?

The SEC file number for this 10-K filing is 001-36299.

Filing Stats: 4,438 words · 18 min read · ~15 pages · Grade level 13.8 · Accepted 2025-02-10 06:55:35

Key Financial Figures

Filing Documents

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 15 Item 1B. Unresolved Staff Comments 51 Item 1C. Cybersecurity 51 Item 2.

Properties

Properties 52 Item 3.

Legal Proceedings

Legal Proceedings 52 Item 4. Mine Safety Disclosures 53 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchase of Equity Securities 54 Item 6. [Reserved] 56 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 57 Item 7A.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 75 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 78 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 154 Item 9A.

Controls and Procedures

Controls and Procedures 154 Item 9B. Other Information 155 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 155 PART III Item 10. Directors, Executive Officers and Corporate Governance 156 Item 11.

Executive Compensation

Executive Compensation 156 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 156 Item 13. Certain Relationships and Related Transactions, and Director Independence 156 Item 14. Principal Accountant Fees and Services 156 PART IV Item 15. Exhibits and Financial Statement Schedules 157 Item 16. Form 10-K Summary 157 EXHIBIT INDEX

SIGNATURES

SIGNATURES 3 Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Annual Report") includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical fact contained in this Annual Report, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements. The words "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "might," "will," "should," "can have," "likely," "continue," "design," and other words and terms of similar expressions are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, strategy, short-term and long-term business operations and objectives and financial needs. Although we believe that the expectations reflected in our forward-looking statements are reasonable, actual results could differ from those expressed in our forward-looking statements. Our future financial position and results of operations, as well as any forward-looking statements are subject to change and inherent risks and uncertainties. You should consider our forward-looking statements in light of a number of factors that may cause actual results to vary from our forward-looking statements including, but not limited to: risks discussed under the heading "Risk Factors" herein, as well as our consolidated financial statements, related notes, and the other financial information appearing elsewhere in this Annual Report and our other filings with the United States Securi

Business

Item 1. Business Overview Ladder Capital is an internally-managed real estate investment trust ("REIT") that is a leader in commercial real estate finance. We originate and invest in a diverse portfolio of commercial real estate and real estate-related assets, focusing on senior secured assets. Our investment activities include: (i) our primary business of originating senior first mortgage fixed and floating rate loans collateralized by commercial real estate with flexible loan structures; (ii) owning and operating commercial real estate, including net leased commercial properties; and (iii) investing in investment grade securities secured by first mortgage loans on commercial real estate. We believe that our in-house origination platform, ability to flexibly allocate capital among complementary product lines, credit-centric underwriting approach, access to diversified financing sources, and experienced management team position us well to deliver attractive returns on equity to our shareholders through economic and credit cycles. Our businesses, including balance sheet lending, conduit lending, securities investments, and real estate investments, provide for a stable base of net interest and rental income. We have originated $29.9 billion of commercial real estate loans from our inception in October 2008 through December 31, 2024. During this timeframe, we also acquired $14.1 billion of predominantly investment grade-rated securities secured by first mortgage loans on commercial real estate and $2.1 billion of selected net leased and other real estate assets. As part of our commercial mortgage lending operations, we originate conduit loans, which are first mortgage loans on stabilized, income producing commercial real estate properties that we intend to make available for sale in commercial mortgage-backed securities ("CMBS") securitizations. From our inception in October 2008 through December 31, 2024, we originated $16.9 billion of conduit loans, of which

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