Roc360 Closes $238M Rated RTL Securitization 

Roc360 has closed its second residential transitional loan (RTL) securitization, Roc Mortgage Trust 2024-RTL1, totaling $237.5 million in mortgage-backed notes rated by DBRS Morningstar.  

As a revolving securitization, the transaction allows for the addition of new loans. The securitization was sponsored by Roc360 Real Estate Income Trust, a private mortgage REIT on the company’s platform, and builds on its debut 2021-RTL1 securitization. 

Roc360, through affiliated entities, provides loan origination, servicing, and asset management functions. All loans in the mortgage pool were originated by Roc360’s affiliates: Roc Capital, Finance of America Commercial, and CIVIC Financial Services.  

“This transaction not only underscores our commitment to providing resilient financing options but also reflects our platform’s data-driven approach to optimizing credit performance,” said Andrew Whelan, President at Roc360 REIT. 

Since 2014, NYC-based Roc360 organically originated and acquired brands which collectively funded over $28 billion in loans throughout 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 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.