Two Harbors Investment Corp., a Minnetonka-based real estate investment trust, on Friday completed a secondary stock offering of 57.5 million shares that raised about $763 million.

Two Harbors invests in residential mortgage-backed securities (RMBS) and other investments.

The company plans to use net proceeds of the offering to make additional acquisitions including residential mortgage-backed securities, prime jumbo residential mortgage loans, credit-sensitive residential mortgage loans and mortgage servicing rights.

The company sold 50 million shares, plus an overallotment of 7.5 million shares. The offering was underwritten by Credit Suisse Securities and co-managed by Barclays Capital Inc., Bank of America Merrill Lynch and Goldman Sachs & Co.

In December, Two Harbors contributed a portfolio of single-family residential homes to a newly formed REIT named Silver Bay Realty Trust Corp. in connection with Silver Bay’s initial public offering.

Silver Bay will focus on the acquisition, renovation, leasing and management of single-family properties for rental income and long-term capital appreciation.

Both REITs are externally managed and advised by subsidiaries of Minnetonka-based Pine River Capital.