Kiavi, a provider of capital to residential real estate investors, has announced the closure of a $350 million unrated securitization of residential transition loans (RTLs). This is the 18th transaction under Kiavi’s LHOME program, bringing its total issuance to over $4.7 billion since the program began in 2019 and nearly $1 billion in the first half of 2024.
The transaction attracted significant interest from a diverse group of institutional investors. The notes, offered in three classes—A1, A2, and M—were all sold. Similar to previous LHOME transactions, the deal features a two-year revolving period during which principal payoffs can be reinvested to purchase newly originated loans.
Arvind Mohan, CEO of Kiavi, expressed enthusiasm about the securitization, stating that it supports the company’s growth plans by providing real estate investors with reliable and competitively priced capital. Mohan highlighted that the half-year issuance has nearly reached $1 billion, reflecting consistent institutional demand for Kiavi’s RTL assets.
Kiavi is a prominent lender to residential real estate investors in the United States. The company’s technology platform, data-driven approach, and capital execution enable it to offer a transparent online experience, competitive pricing, and dependable capital to help real estate investors grow their businesses.
Barclays Capital, Inc. acted as the sole structuring agent for the deal. Barclays, Nomura Securities International, Inc., and Performance Trust Capital Partners, LLC served as joint bookrunners and co-lead managers for the transaction.
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By Proptechbuzz
By Ravi Kumar