TPG Mortgage Investment Trust has entered into a definitive agreement to acquire Cherry Hill Mortgage Investment Corp., creating a combined residential mortgage investment portfolio of approximately $9 billion.
Under the agreement, Cherry Hill common stockholders will receive 0.3063 shares of MITT common stock and $0.93 in cash for each share held. Based on MITT’s Aug. 7 closing price, the transaction implies a value of $3.10 per Cherry Hill share, representing a 29 percent premium to Cherry Hill’s unaffected closing price and a 32 percent premium to its 30-day volume-weighted average price.
The transaction is expected to close in fourth quarter 2026, subject to customary closing conditions and stockholder approvals. MITT stockholders are expected to own approximately 73 percent of the combined company, with Cherry Hill stockholders owning approximately 27 percent.
The co
