We actively manage CDOs and other real estate investments. Our investments are primarily secured by or related to commercial real estate. To enhance our returns, we seek to execute on strategies such as collapsing our CDOs or opportunistically investing within our CDOs.
At June 30, 2015, our real estate debt portfolio consists of $575 million face amount, or $455 million fair value, of assets as detailed below:
$373 million face amount of non-agency assets, or $247 million fair value
$202 million face amount of agency assets, or $208 million fair value
Fair Value of Legacy Real Estate Debt Portfolio
|Face Amount||Fair Value|
|Other Securities & Loans||72||51.4||37|
More detailed information about our business is included in our reports filed with the Securities and Exchange Commission (SEC). These reports describe, among other things, certain risks that could have a material adverse impact on our ability to achieve our business objectives, realize our expected investment returns, and pay dividends. We urge you to review these risks and the other information in our SEC reports.