Toorak Capital Partners Wraps $350mil Residential Bridge Loan Securitization
October 1, 2019
Toorak Capital Partners, a correspondent real estate loan investment platform headquartered in Summit, N.J., has completed a $350 million securitization of residential bridge loans, which the company said was the largest ever issuance in the asset class.
Toorak’s securitization, Toorak Mortgage Trust 2019-2, features a two-year revolving period, during which time loan payoffs can be reinvested in new loans. The company said investor interest resulted in the offering was upsized by 40 percent during the marketing period.
“We are dedicated to institutionalizing the residential investor loan market by providing reliable, high-quality capital, with standardized credit guidelines, responsive service and timely execution,” said John Beacham, CEO of Toorak. “We are focused on helping our lending partners grow their business responsibly.”
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