Hunton Andrews Kurth LLP is representing Chimera Investment Corporation (“Chimera”) in connection with its recently-announced acquisition of Palisades Group (“Palisades”), a U.S.-based alternative asset manager specializing in residential real estate credit. Chimera will acquire Palisades for cash consideration of $30 million at closing, plus an additional potential earnout of up to $20 million over five years contingent upon achieving certain financial targets. The acquisition is expected to close during the fourth quarter of 2024.

Chimera is a publicly-traded real estate investment trust that is primarily engaged in the business of investing directly or indirectly, on a leveraged basis, in a diversified portfolio of real estate assets, including mortgage loans, Agency RMBS, Non-Agency RMBS, Agency CMBS, business purpose and investor loans, and other real estate assets.

The Hunton Andrews Kurth team was led by Real Estate Capital Markets practice head Rob Smith, M&A partner Jim Kennedy and tax partner Kendal Sibley. The multidisciplinary team also included M&A practice co-head Steven Haas and associates Charles Matthews and Kelli Rice for M&A; partners Jim Seevers and Mark Connolly for private equity; associate Patrick Tricker for tax; partner Kate Saltz and Tianlu Zhang for capital markets; partners Jeremy Boczko and counsel Erik Kane for intellectual property; partner Michelle Lewis and associate Tyler Richardson for employee benefits; partner Ryan Glasgow and associate Tyler Laughinghouse for labor; partner J.C. Chenault and associate Matt Chriss for real estate; partner Adam Solomon and associate Samantha Smart for data privacy; partner Greg Wall and associate Erin Grisby for environmental; and partner Jess Tobin and associate Ave Grosenheider for corporate finance.