TSL Express Daily News

Recognized for Successful Execution of the First-Ever Rated Residential Transition Loan (“RTL”) Securitization

TAMPA, Fla. – May 19, 2025 – Toorak Capital Partners (“Toorak”), a tech-enabled investment manager of business purpose mortgage loans, was awarded RMBS Deal of the Year at the 2025 GlobalCapital US Securitization Awards for its successful execution of Toorak 2024-RRTL1, the first-ever rated residential transition loan (“RTL”) securitization.

The $240 million deal was rated by Morningstar DBRS, which in October 2023 was the first nationally recognized statistical rating organization to finalize a methodology for RTL securitizations.

“The successful execution of the first-ever rated RTL securitization by Toorak in February 2024 was a pivotal moment for the private lending industry, and a significant step forward in the institutionalization of the RTL market,” said John Beacham, CEO and Founder of Toorak Capital Partners.

GlobalCapital’s annual US Securitization Awards celebrate leading banks, issuers, deals, investors, and service providers across the industry. The awards showcase firms identified as leaders within their peer groups, with winners selected through an industry voting system.

“This recognition is a testament to our team’s hard work and continued efforts to broaden participation in the RTL market by making it accessible to the bulk of fixed income investors, increasing both the availability and affordability of capital to finance single-family and multifamily construction projects that provide much needed housing stock,” said Ketan Parekh, Managing Director at Toorak.

The initial collateral underlying the Toorak 2024-RRTL1 securitization consisted of 370 residential transition loans that financed approximately 527 housing units. The securitization featured a sizeable portion (42.36%) of collateral originated by Toorak’s affiliate company Merchants Mortgage & Trust Corporation, LLC (“Merchants”), an established originator of RTL loans with over 50 years of experience in the space.

Morgan Stanley led the offering and served as initial purchasers along with Deutsche Bank, JP Morgan Securities, LLC, Performance Trust Capital Partners, and KKR Capital Markets. Significant investor demand during the marketing process led to the offering being upsized and to tightened spreads.

Since its founding in 2016, Toorak has issued $3.89 billion in securitizations across 15 deals, including 2 rated and 9 unrated revolving transactions backed by RTL loans, and 4 rated transactions backed by DSCR long-term investor loans on rental properties.

About Toorak Capital Partners

Toorak Capital Partners (“Toorak”) is a tech-enabled investment manager of business-purpose mortgage loans backed by residential, multifamily, and mixed-use properties throughout the U.S. and U.K. Toorak sources loans through strategic partnerships with top loan originators including sister company Merchants Mortgage – responsible for over half of its 1–4-unit residential transition loan (RTL) volume – and also via direct origination including table funding.

With long-term capital commitments from credit funds and accounts managed by KKR, a leading global investment firm, Toorak has revolutionized the way private lenders of business purpose real estate loans access capital. Toorak was among the first to link small-balance commercial and residential originators with institutional capital and recently closed the first-ever rated RTL securitization. Since inception, Toorak has provided more than $15 billion in capital and funded over 35,000 mortgage loans. Toorak-funded projects are expected to renovate, stabilize, or provide rental housing for over 50,000 families. More information is available at www.toorakcapital.com.