Korth Direct Mortgage Announces That It Is Now a Majority Women-Owned Enterprise
MIAMI, June 14, 2023--(BUSINESS WIRE)--Korth Direct Mortgage Inc. ("KDM"), a national commercial real estate finance firm that offers fixed rate loans up to $100 million for multifamily, office, retail, mixed use, self-storage, industrial, and other select property types, today announced that on Friday June 9, 2023 (See our 8-K), Holly MacDonald-Korth, KDM’s Chief Executive Officer, acquired 1,100,000 shares of common stock from KDM’s former CEO James W. Korth. As a result of this acquisition, MacDonald-Korth is now the single largest shareholder, holding 46% of KDM’s common stock.
The transaction now makes KDM a majority women-owned enterprise, with MacDonald-Korth and Pam Hipp, Managing Director of Sales and Distribution of KDM’s Michigan-based broker-dealer subsidiary J. W. Korth & Company, now owning a combined 53% of KDM’s common stock.
"KDM is proud of its commitment to diversity and the acquisition of the best talent possible to serve its shareholders and investors. This new designation opens our company to broad opportunities with asset allocators and broker-dealers who value diversity, equity, and inclusion," said MacDonald Korth. "But beyond those advantages, we are brimming with pride to be one of the only national lenders of our size to be owned and operated by women."
KDM will continue to move forward with its mission of providing value to its shareholders and investors through its unique industry perspective and by sourcing quality loans and superior talent.
About Korth Direct Mortgage Inc.
Korth Direct Mortgage is an Inc. 5000 company which was organized in 2016 and is a voluntary SEC public reporting company. Since 2017, KDM has completed approximately $600 million in balance sheet commercial real estate financing. The loans, ranging from $5 million to $50 million, are diversified by geography and asset class nationwide.
The company is a vertically integrated originator, lender, servicer, specializing in the securitization of first lien commercial real estate debt with headquarters in Coral Gables, Florida. KDM specializes in lending on income producing real estate, typically light industrial, warehouse, office, multi-family, and medical properties. It provides flexible institutional capital as a common-sense lending partner and manage borrowers through the entire loan-life cycle. KDM issues Mortgage Secured Notes ("MSNs") to fund its loans. MSNs are registered corporate bonds ("KDMMTG" on Bloomberg). You can find more information about KDM's lending platform at www.kdmfinancial.com or visit our corporate website at www.korthdirect.com.
Cautionary Statement Regarding "Forward-Looking" Statements
This press release contains statements that are considered forward-looking statements within the meaning of and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Please see our disclosure at https://legal.kdmfinancial.com/cautionary-statement which is incorporated by reference herein.
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