Toorak Capital Partners continues to solidify its position as a leading capital provider in the private real estate lending industry with the successful closing of Toorak Mortgage Trust 2024-2 (TRK 2024-2). This landmark $166 million residential transition loan (RTL) securitization is a first for Toorak, being exclusively backed by loans secured by small balance multifamily and mixed-use properties. The move underscores Toorak Capital Partners’ commitment to diversifying its offerings and addressing critical needs in the housing market.
The TRK 2024-2 deal is underpinned by a portfolio of 98 RTL loans, collectively financing approximately 1,367 multifamily units. This injection of capital is crucial for projects focused on renovating, stabilizing, or developing multifamily properties, ultimately contributing to the availability of quality housing. Performance Trust Capital Partners spearheaded the offering, acting as an initial purchaser alongside notable financial institutions including Deutsche Bank Securities Inc., KKR Capital Markets, and Morgan Stanley & Co. LLC.
John Beacham, Founder and CEO of Toorak Capital Partners, highlighted the strategic importance of this securitization. “Completing our first RTL deal fully backed by multifamily and mixed-use loans at inception allows us to further broaden our financing capabilities for this product,” Beacham stated. He further emphasized the broader impact of Toorak’s initiatives, noting, “Our securitizations for residential bridge, DSCR, and multifamily properties continue to aid in the deliverability of affordable units to the market, while bringing jobs and opportunities to neighborhoods that have often been overlooked by large investors.” This statement reflects Toorak Capital Partners’ dedication to not only financial innovation but also social responsibility.
To date, Toorak Capital Partners has demonstrated significant market presence with $3.89 billion in securitizations across 15 deals. This includes a mix of rated and unrated transactions, showcasing their expertise and the robustness of their securitization programs in both RTL and DSCR loan sectors.
About Toorak Capital Partners
Toorak Capital Partners stands out as a tech-forward investment manager specializing in business-purpose mortgage loans. Their focus spans residential, multifamily, and mixed-use properties across the United States and the United Kingdom. Toorak strategically partners with leading loan originators, including Merchants Mortgage, and also leverages direct origination capabilities. With substantial long-term capital commitments from credit funds and KKR, a global investment leader, Toorak Capital Partners has transformed capital access for private real estate lenders. Pioneering the connection between small-balance commercial and residential originators with institutional capital, Toorak has funded over $13 billion across more than 35,000 mortgage loans since its inception. These investments are projected to facilitate the renovation, stabilization, or provision of rental housing for over 50,000 families, demonstrating Toorak Capital Partners’ significant impact on the housing landscape.
For more detailed information, please visit www.toorakcapital.com.
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Media
Joshua Greenwald
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646-504-7306
