Roc360 Closes $200M Residential Bridge Loan Securitization
Roc Capital Holdings LLC, operating under its Roc360 platform, has just wrapped up a $200 million securitization of residential transitional loans (RTLs) with Roc Mortgage Trust 2025-RTL1. The deal, rated by DBRS Morningstar, was oversubscribed.
With $190 million in offered notes split across two senior and two mezzanine classes, the structure leans on fixed-rate, interest-only, first-lien loans to real estate investors. The pool’s collateral spans one-to-four-family homes, multifamily units, and mixed-use properties, backed by solid credit enhancements like subordination and overcollateralization.
The offered notes were divided into four classes (A1, A2, M1, and M2), all of which were sold. As a revolving securitization, the structure allows for the addition of new loans over a two-year period.
Headquartered in NYC, Roc360 specializes in residential real estate investment loans. Since its founding in 2014, Roc360 and the brands it has acquired have collectively funded over $28 billion in loans across the U.S.
Securitizations of RTLs, sometimes known as “fix-and-flip” loans or residential bridge loans, have increased in recent years, with several commercial real estate finance firms announcing new deals.
In November 2024, Roc360 closed its second RTL securitization, Roc Mortgage Trust 2024-RTL1, totaling $237.5 million in mortgage-backed notes rated by DBRS Morningstar. In October, Kiavi closed a $400 million rated RTL, its 20th transaction under its LHOME shelf and fifth of 2024, as well as its second rated securitization. The company closed a $400 million rated RTL in August.
In September, Toorak Capital Partners LLC closed its second rated RTL, Toorak 2024-RRTL2, a $237.5 million deal rated by Morningstar DBRS, and last month it closed an $166 million RTL backed by multifamily and mixed-use properties. That same month, Genesis Capital LLC, a Rithm Capital company, closed a $450 million rated securitization backed by RTLs; its second rated securitization.
Nomura Securities International, Inc. acted as the sole lead structuring agent for the latest Roc360 transaction. Morgan Stanley & Co. LLC served as joint bookrunner and co-lead manager. The securitization was sponsored by Roc360 Real Estate Income Trust, a private mortgage REIT on the Roc360 platform.
