Ladder Capital Finance Launches with $1 Billion Investment

Ladder Capital Finance has been formed as a specialty finance company focused on the commercial real estate industry. It has raised approximately $1 billion in equity and debt, co-led by Towerbrook Capital Partners and GI Partners.

PRESS RELEASE

Ladder Capital Finance LLC (“Ladder Capital” or “the Company”)
today announced it has commenced operations.  Based in New York, Ladder Capital is a newly-formed
specialty finance company with approximately $1.0 billion of equity and debt capital that will provide
comprehensive financing options to the commercial real estate industry.

Ladder Capital will pursue opportunities resulting from the current lack of liquidity and the long term
structural changes occurring in the commercial real estate (“CRE”) financing market.  Specifically, this will
include the purchase, origination and management of a diverse portfolio of CRE mortgages, including
fixed-rate and interim floating-rate mortgages, junior interests in mortgages and mezzanine loans and
commercial mortgage-backed securities.

Ladder Capital is comprised of a highly experienced team of industry veterans with deep relationships
and expertise in all aspects of CRE lending and investment.  Brian Harris, formerly Managing Director and
Head of Global Commercial Real Estate at UBS, leads the team as the Company’s Chief Executive
Officer.  He is joined by Greta Guggenheim, President; Marc Fox, Chief Financial Officer; Pamela
McCormack, General Counsel and Head of Transaction Management; and Robert Perelman, Head of
Asset Management.

The management team has an average of 18 years of industry experience, the majority of which time
they spent working together at UBS and Credit Suisse.  Ladder Capital currently has a total of 11
employees and expects to have approximately 25 people by the end of its first full year of operation.

Brian Harris, Chief Executive Officer of Ladder Capital commented, “While Ladder Capital is a new
business, our senior management team is experienced and well-established in our industry.  We have
been working together for more than a decade and have an excellent track record of managing risk,
particularly in difficult markets such as these.

“In the short term, we will be looking to use the strength of our new balance sheet to pursue opportunities
arising from the current disparity between supply and demand in the commercial real estate financing
market.  We will enter the market cautiously and use our collective experience in the credit markets to
selectively acquire assets.”

Mr. Harris and his team are joined by Alan Fishman, who will serve as the Company’s Chairman of the
Board.  Mr. Fishman has extensive experience in the financial services industry, most recently as the
Chief Executive Officer of Washington Mutual.   From June 2006 to December 2006, Mr. Fishman served
as President of Sovereign Bancorp (“Sovereign”).  In June 2006, Sovereign acquired Independence

Community Bank Corp, where Mr. Fishman served as President and CEO from March 2001 until its sale
to Sovereign.

TowerBrook Capital Partners L.P., a New York- and London-based private equity firm, and GI Partners, a
Menlo Park, California- and London-based private equity firm, are the co-lead investors in Ladder Capital.
Principals of Meridian Capital Group, LLC, one of the largest CRE mortgage brokers in the United States,
are also investors in Ladder Capital.

Jonathan Bilzin of TowerBrook Capital Partners commented, “At TowerBrook, we believe in partnering
with exceptional people.  Brian and his team have worked together for more than a decade, and when
TowerBrook first identified them, we quickly recognized them as a uniquely innovative and skilled team of
real estate lenders and investors with a long and established track record of success.  We look forward to
working with the Ladder Capital team and helping them grow and develop the business.”

Howard Park from GI Partners said, “We are pleased to be investing with the best-in-class management
team at Ladder Capital.  Over the past year, GI Partners’ goal was to create a specialty finance company
that would flourish in the rapidly changing commercial real estate finance industry.  With management’s
experience, a strong balance sheet, and a clear execution strategy, we believe Ladder Capital is uniquely
positioned to become a leader in the industry.”

Brian Harris added, “We are delighted to be partnering with such strong financial partners as TowerBrook
Capital Partners and GI Partners to build a first class specialty finance company.  Both companies have a
terrific reputation for working alongside management teams to provide capital and investment expertise
that firms need to grow and become leaders in their industry.”

END

About Ladder Capital Finance LLC
Ladder Capital Finance LLC, a New York-based specialty finance company with approximately $1.0
billion of equity and debt capital, provides comprehensive financing options to the commercial real estate
industry (“CRE”). With an experienced and well established leadership team, Ladder Capital’s activities
include the purchase, origination and management of a diverse portfolio of CRE mortgages, including
fixed-rate and interim floating-rate mortgages, junior interests in mortgages and mezzanine loans and
commercial mortgage-backed securities.

About TowerBrook Capital Partners
TowerBrook Capital Partners L.P. is a private equity firm with approximately $5.0 billion under
management. The firm has offices in New York and London and focuses on making investments in North
American and European companies.  TowerBrook primarily pursues control-oriented private equity
investments in large and middle market companies, partnering with highly capable management teams,
often in situations characterized by complexity.

About GI Partners
GI Partners is a private equity firm with a value-based, contrarian investment strategy managing
approximately $3.5 billion on behalf of leading international investors. The firm targets asset-intensive
businesses or portfolios of assets that are underpriced relative to their intrinsic or fundamental values and

which are subject to regulatory or structural change, cyclical challenges or financial complexity. The firm
is active in sectors which include healthcare services; financial services; asset-backed and mission-critical
IT services; real estate; hospitality, leisure and retail; and logistics.