Kiavi, a provider of capital to residential real estate investors, has closed a $350 million unrated securitization of residential transition loans.
This marks Kiavi’s 18th transaction under its LHOME shelf, bringing the company’s total issuance to more than $4.7 billion in offered notes since it began its securitization program in 2019 and nearly $1 billion in the first six months of 2024.
The transaction garnered significant interest from a broad set of institutional investors. The offered notes are in three classes, A1, A2, and M, all of which were sold.
Consistent with prior LHOME transactions, the deal includes a two-year revolving period, during which principal payoffs can be reinvested to purchase additional newly originated loans.
“We’re thrilled to announce yet another securitization to support our growth plans of enabling more real estate investors with reliable, competitively priced capital to scale their businesses,” says Arvind Mohan, CEO of Kiavi, in a release. “This securitization furthers our capital advantage, bringing our half-year issuance to nearly $1 billion. Our consistency, track record, and performance continue to garner significant institutional demand for Kiavi’s RTL assets,” he added.
Kiavi’s technology platform, data-driven approach, and leading capital execution allow it to provide real estate investors with a transparent online experience, competitive pricing, and reliable capital to scale their businesses.
Barclays Capital, Inc. was the sole structuring agent of the deal. Barclays, Nomura Securities International, Inc., and Performance Trust Capital Partners, LLC were joint bookrunners and co-lead managers on the transaction.
Photo: Giorgio Trovato