<SEC-DOCUMENT>0001144204-16-079998.txt : 20160209
<SEC-HEADER>0001144204-16-079998.hdr.sgml : 20160209
<ACCEPTANCE-DATETIME>20160209162947
ACCESSION NUMBER:		0001144204-16-079998
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160209
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Cost Associated with Exit or Disposal Activities
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160209
DATE AS OF CHANGE:		20160209

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REDWOOD TRUST INC
		CENTRAL INDEX KEY:			0000930236
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				680329422
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13759
		FILM NUMBER:		161400194

	BUSINESS ADDRESS:	
		STREET 1:		ONE BELVEDERE PLACE
		STREET 2:		SUITE 300
		CITY:			MILL VALLEY
		STATE:			CA
		ZIP:			94941
		BUSINESS PHONE:		(415) 380-2317

	MAIL ADDRESS:	
		STREET 1:		ONE BELVEDERE PLACE
		STREET 2:		SUITE 300
		CITY:			MILL VALLEY
		STATE:			CA
		ZIP:			94941
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>v430918_8k.htm
<DESCRIPTION>FORM 8-K
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B>
&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B> &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>_______________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Pursuant to Section&nbsp;13 OR 15(d)
of The Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Date of Report (Date of earliest event
reported): February 9, 2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>_______________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REDWOOD TRUST, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt"><B>Maryland</B> &nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt"><B>001-13759</B> &nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt"><B>68-0329422</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">(State or other</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">incorporation)</P></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-right: 0.8pt; text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 0.8pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.8pt 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>One Belvedere Place</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Suite&nbsp;300</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Mill Valley, California 94941</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal executive offices
and Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>(415)&nbsp;389-7373</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Former name or former address, if changed
since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_______________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule&nbsp;425 under
the Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule&nbsp;14a-12 under
the Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2.02. Results of Operations and Financial Condition.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7.01. Regulation FD Disclosure.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 9, 2016,
Redwood Trust, Inc. (&ldquo;Redwood&rdquo; or the &ldquo;Company&rdquo;) issued a press release announcing that it is repositioning
its commercial mortgage loan business, and including certain preliminary full-year 2015 financial results. A copy of the press
release is attached hereto as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preliminary full-year
2015 financial results presented represent the most current information available to management. The Company&rsquo;s actual results
may differ from these preliminary results due to the completion of the Company&rsquo;s financial closing procedures, final adjustments
and other developments that may arise between the date of this Form 8-K and the time that financial results for the year ended
December 31, 2015 are finalized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The information
contained in Item 2.02 and Item 7.01 and the attached Exhibit 99.1 is furnished to and not filed with the Securities and
Exchange Commission, and shall not be incorporated by reference into any registration statement or other document filed under
the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set
forth by specific reference in such filing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2.05 Costs Associated with Exit or Disposal Activities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On February 9, 2016, the Company announced
its plan to reposition its commercial mortgage loan business by discontinuing commercial mortgage loan origination activity. As
a result, the Company will implement a workforce reduction that will impact 25 employees, primarily employees engaged in commercial
loan origination activities, representing approximately 15% of the company&rsquo;s fixed compensation expense at December 31, 2015.
The Company expects to incur non-recurring charges totaling approximately $5 million to $6 million related to this announcement,
primarily in the first quarter of 2016, substantially all of which will be cash- and non-cash-based severance costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 5.02.</B>&nbsp;<B>Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(b): &#9;On February 9, 2016, the Company announced that Fred
J. Matera, Executive Vice President, Commercial Investments and Finance, would cease employment with the Company, following a transition
period expected to end on May 1, 2016. As a result, the Company expects that Mr. Matera will be terminated without cause and will
accrue severance benefits in accordance with the terms of his employment agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Cautionary Statement:
Redwood Trust&rsquo;s press release may contain forward-looking statements within the meaning of the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995, including forward-looking statements related to: the discontinuation of Redwood&rsquo;s
commercial loan origination business and Redwood&rsquo;s workforce reduction (and the expected related non-recurring expense and
the expected impact on future payroll and other operating expenses), Redwood&rsquo;s future business activities, competitiveness,
and profitability, preliminary full-year 2015 financial results, and Redwood&rsquo;s future investment opportunities. Forward-looking
statements involve numerous risks and uncertainties. Actual results may differ from Redwood Trust&rsquo;s beliefs, expectations,
estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future
events. Forward-looking statements are not historical in nature and can be identified by words such as &ldquo;anticipate,&rdquo;
&ldquo;estimate,&rdquo; &ldquo;will,&rdquo; &ldquo;should,&rdquo; &ldquo;expect,&rdquo; &ldquo;believe,&rdquo; &ldquo;intend,&rdquo;
&ldquo;seek,&rdquo; &ldquo;plan&rdquo; and similar expressions or their negative forms, or by references to strategy, plans, or
intentions. These forward-looking statements are subject to risks and uncertainties, including, among other things, those described
herein and in Redwood Trust&rsquo;s most recent Annual Report on Form 10-K under the caption &ldquo;Risk Factors.&rdquo; Other
risks, uncertainties, and factors that could cause actual results to differ materially from those projected may be described from
time to time in reports Redwood Trust files with the Securities and Exchange Commission, including reports on Forms 10-Q and 8-K.
Redwood Trust undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information,
future events, or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Important factors,
among others, that may affect our actual results include: the inherent uncertainty regarding the timing and amount of severance
and other costs associated with the discontinuance of our commercial mortgage loan origination business and the related workforce
reduction, general economic trends, the performance of the housing, commercial real estate, mortgage, credit, and broader financial
markets, and their effects on the prices of earning assets and the credit status of borrowers; federal and state legislative and
regulatory developments, and the actions of governmental authorities, including those affecting the mortgage industry or our business
(including, but not limited to, the Federal Housing Finance Agency&rsquo;s final regulation relating to FHLB membership requirements
and the potential implications for our captive insurance subsidiary&rsquo;s membership in the FHLB); developments related to the
fixed income and mortgage finance markets and the Federal Reserve&rsquo;s statements regarding its future open market activity
and monetary policy; our exposure to credit risk and the timing of credit losses within our portfolio; the concentration of the
credit risks we are exposed to, including due to the structure of assets we hold and the geographical concentration of real estate
underlying assets we own; our exposure to adjustable-rate mortgage loans; the efficacy and expense of our efforts to manage or
hedge credit risk, interest rate risk, and other financial and operational risks; changes in credit ratings on assets we own and
changes in the rating agencies&rsquo; credit rating methodologies; changes in interest rates; changes in mortgage prepayment rates;
the availability of assets for purchase at attractive prices and our ability to reinvest cash we hold; changes in the values of
assets we own; changes in liquidity in the market for real estate securities and loans; our ability to finance the acquisition
of real estate-related assets with short-term debt; the ability of counterparties to satisfy their obligations to us; our involvement
in securitization transactions, the profitability of those transactions, and the risks we are exposed to in engaging in securitization
transactions; exposure to claims and litigation, including litigation arising from our involvement in securitization transactions;
whether we have sufficient liquid assets to meet short-term needs; our ability to successfully compete and retain or attract key
personnel; our ability to adapt our business model and strategies to changing circumstances; changes in our investment, financing,
and hedging strategies and new risks we may be exposed to if we expand our business activities; our exposure to a disruption or
breach of the security of our technology infrastructure and systems; exposure to environmental liabilities; our failure to comply
with applicable laws and regulations; our failure to maintain appropriate internal controls over financial reporting and disclosure
controls and procedures; the impact on our reputation that could result from our actions or omissions or from those of others;
changes in accounting principles and tax rules; our ability to maintain our status as a REIT for tax purposes; limitations imposed
on our business due to our REIT status and our status as exempt from registration under the Investment Company Act of 1940; decisions
about raising, managing, and distributing capital; and other factors not presently identified.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item&nbsp;9.01. Financial Statements and Exhibits.</B> &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 4%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">(d)</FONT></TD>
    <TD STYLE="width: 93%; padding-right: 0.8pt"><FONT STYLE="font-size: 10pt">Exhibits</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 0.8pt; padding-left: 1.25in; text-indent: -1.25in"><FONT STYLE="font-size: 10pt">Exhibit 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press Release dated February 9, 2016&#9;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<BR>
&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font-size: 10pt">Date: February 9, 2016</FONT></TD>
    <TD COLSPAN="2">REDWOOD TRUST, INC.</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; text-transform: uppercase">/s/ Andrew P. Stone</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Andrew P. Stone</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">General Counsel, Executive Vice President, and Secretary</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Exhibit Index</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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    <TD STYLE="width: 20%; text-align: center"><FONT STYLE="font-size: 10pt"><B><U>Exhibit
No</U></B>. </FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 78%; padding-left: 0.25in"><FONT STYLE="font-size: 10pt"><B><U>Exhibit
Title</U></B> </FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center">99.1</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Press Release dated February 9, 2016</FONT></TD></TR>
</TABLE>

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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v430918_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
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     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 85px; width: 185px">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%"><U>FOR IMMEDIATE RELEASE</U></TD>
    <TD STYLE="width: 20%; text-align: center">CONTACTS:</TD>
    <TD STYLE="width: 30%">Christopher Abate</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Redwood Trust, Inc.</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Tuesday, February 9, 2016</TD>
    <TD>&nbsp;</TD>
    <TD>(415) 384-3584</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Kristin Brown</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Investor Relations</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>(415) 384-3805</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9; &#9;&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>REDWOOD TRUST ANNOUNCES REPOSITIONING
OF ITS COMMERCIAL LOAN BUSINESS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>MILL VALLEY,
CA</B> </FONT><B>&ndash; Tuesday, February 9, 2016</B><FONT STYLE="font-size: 10pt"> &ndash; Redwood Trust, Inc. (NYSE:RWT) announced
today that it is repositioning its commercial business to focus solely on investing activities and will discontinue commercial
loan originations for CMBS distribution. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;We have concluded that the challenging
market conditions our CMBS conduit has faced over the past few quarters are worsening and are not likely to improve for the foreseeable
future,&rdquo; stated Marty Hughes, Chief Executive Officer of Redwood. &ldquo;The escalation in the risks to both source and distribute
loans through CMBS, as well as the diminished economic opportunity for this activity, no longer make our commercial conduit activities
an accretive use of capital.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since initiating its commercial loan business
in 2010, Redwood has focused on both investing in commercial mezzanine loans and originating commercial senior loans for sale into
CMBS transactions. During that time, the company originated more than $2.5 billion of commercial loans, generated more than $50
million of revenues from the sale of loans into CMBS transactions, and created a portfolio of commercial mezzanine loans that totaled
approximately $300 million at December 31, 2015. This portfolio generated approximately $30 million of net interest income during
the full year 2015, based on preliminary financial results. Going forward, Redwood will no longer originate either senior or mezzanine
commercial loans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;We have a strong track record as
a long-term credit investor, focused on building net interest income for our investment portfolio, and we can continue to opportunistically
invest in mezzanine and subordinate CMBS tranches that meet our risk/return profile,&rdquo; said Brett Nicholas, President of Redwood.
&ldquo;The market dislocations that negatively impacted our CMBS conduit may create opportunities to deploy capital into attractive
investments in CMBS or other commercial transactions.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Today&rsquo;s announcement will result
in a workforce reduction that will impact 25 employees primarily engaged in commercial loan origination activities, representing
approximately 15% of the company&rsquo;s fixed compensation expense at December 31, 2015. Redwood expects to incur non-recurring
charges totaling approximately $5 million to $6 million related to this announcement, primarily in the first quarter of 2016. Redwood
plans to retain a team of commercial professionals to support the company&rsquo;s portfolio of commercial mezzanine loans as well
as focus on additional commercial portfolio investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;Our commercial loan origination
activities resulted in a pre-tax loss of approximately $3 million in 2015, or a loss of approximately $2 million on an after-tax
basis, based on our preliminary full-year 2015 results. This included operating expenses of approximately $8 million,&rdquo; said
Christopher Abate, Chief Financial Officer of Redwood. &ldquo;As a result of discontinuing these loan origination activities, we
expect to eliminate this earnings drag going forward and free up approximately $100 million of capital for future investments.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;On behalf of all of us at Redwood,
I would like to extend my sincere appreciation to the members of our commercial team that are impacted by today&rsquo;s announcement
for their professionalism and dedication to the company,&rdquo; Mr. Hughes stated. &ldquo;Fred Matera, Executive Vice President
and head of the commercial team, has been a leader at Redwood since joining the company in 2008, having served as Chief Investment
Officer and in other roles, and we thank him for his many contributions across all of our businesses.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This announcement is part of Redwood&rsquo;s
ongoing evaluation of the efficiency and profitability of its businesses. In the upcoming &ldquo;Fourth Quarter 2015 &ndash; Redwood
Review&rdquo; and fourth quarter 2015 earnings conference call, both of which will be scheduled near the end of February 2016,
Redwood plans to provide further detail regarding the impact of today&rsquo;s announcement, as well as the impact of its recent
announcement relating to the restructuring of its conforming residential loan business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For more information about Redwood Trust,
Inc., please visit our website at: www.redwoodtrust.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Cautionary Statement: This press release
contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform
Act of 1995, including forward-looking statements related to: the discontinuation of Redwood&rsquo;s commercial loan origination
business and Redwood&rsquo;s workforce reduction (and the expected related non-recurring expense and the expected impact on future
payroll and other operating expenses), Redwood&rsquo;s future business activities, competitiveness, and profitability, preliminary
full-year 2015 financial results, and Redwood&rsquo;s future investment opportunities. Forward-looking statements involve numerous
risks and uncertainties. Actual results may differ from Redwood Trust's beliefs, expectations, estimates, and projections and,
consequently, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements
are not historical in nature and can be identified by words such as &quot;anticipate,&quot; &quot;estimate,&quot; &quot;will,&quot;
&quot;should,&quot; &quot;expect,&quot; &quot;believe,&quot; &quot;intend,&quot; &quot;seek,&quot; &quot;plan&quot; and similar
expressions or their negative forms, or by references to strategy, plans, or intentions. These forward-looking statements are subject
to risks and uncertainties, including, among other things, those described herein and in Redwood Trust's most recent Annual Report
on Form 10-K under the caption &quot;Risk Factors.&quot; Other risks, uncertainties, and factors that could cause actual results
to differ materially from those projected may be described from time to time in reports Redwood Trust files with the Securities
and Exchange Commission, including reports on Forms 10-Q and 8-K. Redwood Trust undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future events, or otherwise. </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Important factors, among others, that
may affect our actual results include: the inherent uncertainty regarding the timing and amount of severance and other costs associated
with the discontinuance of our commercial mortgage loan origination business and the related workforce reduction, general economic
trends, the performance of the housing, commercial real estate, mortgage, credit, and broader financial markets, and their effects
on the prices of earning assets and the credit status of borrowers; federal and state legislative and regulatory developments,
and the actions of governmental authorities, including those affecting the mortgage industry or our business (including, but not
limited to, the Federal Housing Finance Agency&rsquo;s final regulation relating to FHLB membership requirements and the potential
implications for our captive insurance subsidiary&rsquo;s membership in the FHLB); developments related to the fixed income and
mortgage finance markets and the Federal Reserve&rsquo;s statements regarding its future open market activity and monetary policy;
our exposure to credit risk and the timing of credit losses within our portfolio; the concentration of the credit risks we are
exposed to, including due to the structure of assets we hold and the geographical concentration of real estate underlying assets
we own; our exposure to adjustable-rate mortgage loans; the efficacy and expense of our efforts to manage or hedge credit risk,
interest rate risk, and other financial and operational risks; changes in credit ratings on assets we own and changes in the rating
agencies&rsquo; credit rating methodologies; changes in interest rates; changes in mortgage prepayment rates; the availability
of assets for purchase at attractive prices and our ability to reinvest cash we hold; changes in the values of assets we own; changes
in liquidity in the market for real estate securities and loans; our ability to finance the acquisition of real estate-related
assets with short-term debt; the ability of counterparties to satisfy their obligations to us; our involvement in securitization
transactions, the profitability of those transactions, and the risks we are exposed to in engaging in securitization transactions;
exposure to claims and litigation, including litigation arising from our involvement in securitization transactions; whether we
have sufficient liquid assets to meet short-term needs; our ability to successfully compete and retain or attract key personnel;
our ability to adapt our business model and strategies to changing circumstances; changes in our investment, financing, and hedging
strategies and new risks we may be exposed to if we expand our business activities; our exposure to a disruption or breach of the
security of our technology infrastructure and systems; exposure to environmental liabilities; our failure to comply with applicable
laws and regulations; our failure to maintain appropriate internal controls over financial reporting and disclosure controls and
procedures; the impact on our reputation that could result from our actions or omissions or from those of others; changes in accounting
principles and tax rules; our ability to maintain our status as a REIT for tax purposes; limitations imposed on our business due
to our REIT status and our status as exempt from registration under the Investment Company Act of 1940; decisions about raising,
managing, and distributing capital; and other factors not presently identified.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
