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Home > Company Index > Real Estate > REIT - Mortgage Investment > Impac Commercial Holdings, Inc.

Impac Commercial Holdings, Inc.
 PROFILE
Impac Commercial Holdings wants to have more of an impact on the world of commercial property finance. After rejecting dueling buyout offers from AMRESCO and Apex Mortgage, the real estate investment trust (REIT) has restructured under a new business plan which will temporarily suspend its conduit operations. Impac will now focus on higher-yielding long-term investments, primarily in commercial mortgages and credit-sensitive commercial mortgage-backed securities. The firm will also not only originate mortgages, but also purchase them from third parties. Fortress Partners, which owns about 25% of the company, replaced all of Impac's executive officers and some of its directors when it bought the REIT's stock.

 COMPETITION
Dynex Capital, Inc. (DX)
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iStar Financial Inc. (SFI)

 FINANCIAL OVERVIEW
Fiscal Year-End: December
1999 Sales (mil.): 33.80
1-Yr. Sales Growth: (7.4)%
Employees: 1
Revenue per employee: $33,800,000.00

 KEY PEOPLE
• Wesley R. Edens
    CEO
• Gregory F. Hughes
    CFO

 CONTACT INFO
1301 Ave. of Americas
New York, NY 10019
US
Phone: 212-798-6100
Fax: 212-798-6133
Online: Web Site

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