Genesis Capital Closes Largest Ever Rated Residential Transition Loan Securitization
Retrieved on:
Tuesday, April 9, 2024
Genesis Capital LLC (“Genesis”), a leading business purpose lender that provides innovative debt solutions to professional real estate developers for new acquisition, renovation, ground-up construction, and long-term rental hold projects across the residential spectrum, today announced it has completed a $500 million rated securitization backed by residential transition loans (“RTL”).
Key Points:
- Genesis Capital LLC (“Genesis”), a leading business purpose lender that provides innovative debt solutions to professional real estate developers for new acquisition, renovation, ground-up construction, and long-term rental hold projects across the residential spectrum, today announced it has completed a $500 million rated securitization backed by residential transition loans (“RTL”).
- The transaction, which received support from 46 investors, represents the largest-ever rated residential transition loan securitization and the first rated transaction focused on ground-up construction.
- View the full release here: https://www.businesswire.com/news/home/20240409467613/en/
The deal’s structure featured three classes of offered bonds ranging from A (low) rated to BB (low) rated bonds. - “The offering will enhance Genesis’ ability to provide innovative, tailored capital solutions to high-quality developers.