Alexander Mortgage REIT is planning an initial public offering (IPO) to raise about $300 million, Reuters reports. The proceeds are expected to be used to acquire short-term securities, including those issued and guaranteed by Freddie Mac or Fannie Mae, and short-term funds. The company may also use part of the proceeds to invest in a portfolio of residential mortgage-backed securities and commercial mortgage-backed securities to qualify as a REIT. The company will be managed by AG REIT Management, a unit of Angelo Gordon & Company.

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