ChiaviOne of the largest private lenders to residential real estate investors in the United States has completed a $300 million unrated securitization of residential bridge loans (RTLs), the company announced on Friday.
Loans bundled in securitizations are primarily investment property loans used in fix and flip transactions. The securitization is Kiavi’s 17th such transaction and brings the company’s total issuance to more than $4.3 billion since launching its securitization program in 2019.
The deal attracted significant interest from institutional investors. Consistent with previous transactions, investors will benefit from a two-year revolving period during which they can reinvest their principal proceeds to purchase additional newly originated loans.
Barclays Capital is the only entity responsible for structuring the transaction. barclays bank, Nomura Securities International and Performance Trust Capital Partners are the joint bookrunners and joint lead managers on this transaction.
“This additional capital fuels our continued growth and enables us to help more real estate investors scale their businesses,” Kiavi CEO Arvind Mohan said in a statement. “Thanks to our advanced data models, technology platform and With a consistent track record, we continue to see significant institutional demand for Kiavi’s RTL assets.”
The deal follows Kiavi’s $350 million securitization in March. The bank also reported it originated $1.66 billion in fixed pass-through and bridge loans in the first four months of 2024, up 40% from the same period in 2023, and has recently expanded into construction finance.
