Genesis Capital Closes Largest Ever Rated Residential Transition Loan Securitization [Yahoo! Finance]
Rithm Capital Corp. (RITM)
Company Research
Source: Yahoo! Finance
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. The deal's structure featured three classes of offered bonds ranging from A (low) rated to BB (low) rated bonds. Goldman Sachs led the offering and served as an initial purchaser along with Deutsche Bank Securities, Morgan Stanley, Nomura, and Performance Trust. "With the successful close of the largest-ever rated RTL, institutional investors are now able to participate in the RTL market. This is an exciting moment for the residential housin
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RITM
News
- Rithm Capital Corp. (NYSE: RITM) had its price target raised by analysts at Keefe, Bruyette & Woods from $12.00 to $12.50. They now have an "outperform" rating on the stock.MarketBeat
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RITM
Earnings
- 4/30/24 - Beat
RITM
Sec Filings
- 5/3/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 4/30/24 - Form 4
- RITM's page on the SEC website