Kiavi Closes $218 Million Revolving Securitization of Residential Transition Loans
Kiavi’s Ninth Securitization in Three Years Underscores Its Position as a Leader for Unrated Residential Transition Loans
SAN FRANCISCO — June 22, 2022 — Kiavi, a leading provider of financing to real estate investors (REIs), today announced it has closed a $218 million revolving securitization of unrated residential transition loans (RTLs). This is the ninth broadly syndicated securitization transaction sponsored by Kiavi under its LHOME shelf since it began its sponsored revolver securitization program in 2019.
“This round of securitization is a testament to our leadership position. Executing in today’s challenging market environment demonstrates our investors’ continued confidence in our products and performance, and it extends our position as a leading issuer of RTL products,” said Arvind Mohan, Kiavi’s chief operating officer. “This enables us to continue to be a dependable partner to real estate investors as they rehabilitate America’s aging housing stock at a time when over two-thirds of U.S. homes are over 30 years old.”
The transaction is estimated to provide capital to support approximately $750 million in loan originations over the life of the deal and will help real estate investors revitalize aged homes across the country. The $218 million total deal size includes $207 million in offered notes in three classes, A1, A2 and M, all of which were sold. The deal includes a two-year revolving period during which principal payoffs can be reinvested in purchasing additional newly originated loans.
Kiavi has rapidly become one of the top destinations for real estate investors who are looking to buy, renovate and sell or rent a home. The company recently surpassed funding $10 billion in loans to real estate investors, since its inception in 2013.
Combination of leading capital markets execution and the operational scale and efficiency that Kiavi’s technology platform enables, allows the company to provide real estate investor customers competitive pricing and the ability to scale.
Nomura Securities International, Inc. (“Nomura”) was the sole structuring agent of this securitization. Nomura, Barclays Capital Inc. and Performance Trust Capital Partners, LLC were joint bookrunners and co-lead managers.
Kiavi uses the power of data and technology to bring lending for real estate investors into the digital age. Through Kiavi’s digital platform, real estate investors are empowered to make smarter decisions, gain access to funding faster, and scale their business. Founded in 2013, Kiavi, formerly known as LendingHome, has grown to become one of the largest lenders to real estate investors in the United States. The company is committed to helping customers revitalize approximately $25 trillion worth of aged U.S. housing stock and provide move-in ready homes and rental housing for millions of Americans across the country. For more information, visit www.kiavi.com, and follow us on Twitter. NMLS ID #1125207
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