Toorak Capital Partners completes $400M residential bridging loans securitisation

By Bridging Loan Directory 9th March 2020

Toorak Capital Partners (“Toorak”), a leading correspondent real estate loan investment platform, today announced the successful pricing of a $400 million securitisation of residential bridging loans, the largest ever issuance in the asset class.

Toorak’s securitisation, Toorak Mortgage Trust 2020-1, is the fourth residential bridging loan securitisation issued by the company. The transaction brings Toorak’s cumulative securitisation volume to $1.25 billion. Each of Toorak’s securitisations represented the largest transaction size for the asset class at the time of issuance.

Toorak’s securitisation drew investor orders significantly in excess of the quantity of notes offered, and the offering was upsized by 33 percent during the marketing period.

John Beacham, Chief Executive Officer of Toorak, said:

“Our success in this market is a direct result of our commitment to maintaining the highest credit standards. We appreciate the support of our investors which enabled us to upsize the offering, especially during a period of high volatility in the financial markets.”

The transaction features a two-year revolving period, during which time loan payoffs can be reinvested in new loans.

Toorak is the largest capital provider to the residential bridging loan industry and has completed over $3.0 billion of investments across more than 10,000 loans in 47 states and the United Kingdom. The company has received more than $550 million in capital commitments from entities managed by the global investment firm KKR. In addition to residential bridge loans, Toorak’s lending platform also facilitates financing options for small balance multifamily bridge and long-term single-family rental loans.