First Republic Preferred Capital Company Description
First Republic Preferred Capital prefers mortgages to almost any other type of investment. The company is a real estate investment trust (REIT) that invests in conforming and nonconforming single-family residential mortgages originated by affiliate First Republic Bank and other lenders. Its portfolio of multifamily mortgages consists mainly of loans secured by urban properties in San Francisco and Los Angeles. California accounts for about 80% of its total portfolio. The company is also open to investing in commercial mortgages. Merrill Lynch, which acquired First Republic Preferred Capital and First Republic Bank in 2007, was bought by Bank of America in 2009.
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The Company Description provides a historical perspective of First Republic Preferred Capital's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of First Republic Preferred Capital's evolution in the marketplace.
