5//SEC Filing
Sutherland REIT Holdings, LP 5
Accession 0001104659-18-009752
CIK 0001527590other
Filed
Feb 13, 7:00 PM ET
Accepted
Feb 14, 4:48 PM ET
Size
14.4 KB
Accession
0001104659-18-009752
Insider Transaction Report
Form 5
Sutherland REIT Holdings, LP
10% Owner
Transactions
- Other
Common Stock
2017-01-31−729,328→ 13,004,631 total - Other
Common Stock
2017-02-28−81,812→ 12,922,819 total - Other
Common Stock
2017-05-31−53,826→ 12,868,993 total - Other
Common Stock
2017-06-30−123,437→ 12,745,556 total - Other
Common Stock
2017-06-30+1,171,494→ 13,917,050 total
Footnotes (5)
- [F1]The Reporting Person received redemption requests (each a "SRH Redemption Request") from certain of its limited partners in respect of certain of their limited partnership interests in the Reporting Person ("SRH Units"). On January 31, 2017, February 28, 2017, May 31, 2017 and June 30, 2017, the Reporting Person satisfied each SRH Redemption Request by exchanging the SRH Units for an equal number of shares of Common Stock.
- [F2]Waterfall Management, LLC, an affiliate of the Issuer's external manager, serves as the general partner of the Reporting Person and may be deemed to be the beneficial owner of the shares of Common Stock of the Issuer that are held by the Reporting Person. However, Waterfall Management, LLC does not have an economic interest in certain of these shares and expects to distribute such shares to the beneficial owners of the Reporting Person upon their request in accordance with the Reporting Person's partnership agreement. Accordingly, Waterfall Management, LLC disclaims beneficial ownership of the shares of common stock held by the Reporting Person except to the extent of its economic interest.
- [F3]In addition, each of Thomas Capasse, Jack Ross, Frederick Herbst, Thomas Buttacavoli and Carole Mortensen is a principal or managing director of Waterfall Asset Management, LLC, the Issuer's external manager, and may be deemed to share voting and investment power over the shares of Common Stock of the Issuer held by the Reporting Person.
- [F4]Each of such individuals disclaims beneficial ownership of such shares of common stock, except to the extent of his economic interest therein. The inclusion of these shares of Common Stock of the Issuer in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
- [F5]On June 30, 2017, the Issuer received a redemption request (the "OP Holdings Redemption Request") from Sutherland OP Holding I, Ltd. ("Holdings I"), a Cayman corporation externally managed by Waterfall Asset Management, LLC, the Issuer's external manager, in respect of 1,171,494 operating partnership units in the Issuer's operating partnership subsidiary ("OP Units") held by Holdings I. On the same date, the Issuer notified Holdings I of its decision to satisfy the OP Holdings Redemption Request by exchanging by 1,171,494 shares of Common Stock for such OP Units. Holdings I then contributed the 1,171,494 shares of Common Stock to the Reporting Person in exchange for an equal number of units of partnership interests in the Reporting Person.
Documents
Issuer
Sutherland Asset Management Corp
CIK 0001527590
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001611235
Filing Metadata
- Form type
- 5
- Filed
- Feb 13, 7:00 PM ET
- Accepted
- Feb 14, 4:48 PM ET
- Size
- 14.4 KB