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INVESTMENT GOVERNMENT PROPERTY PRESERVATION
ROC360
SUCCESSFULLY
ISSUES THREE
SECURITIES
WORTH
200
MILLION
Roc Capital Holdings LLC (Roc360)
has announced the closing of its first round of
syndicated revolving securitization of residential
transitional loans.
Roc360, a digital platform for residential real
estate and an originator of investor-level loans,
acted as a sponsor through its wholly owned
subsidiaries (such as Haus Lending), which
underwrote, originated, and funded all of the
initial mortgage loans in the transaction.
e Roc Mortgage Trust-2021-RTL1
securitization was structured with total offered
notes of approximately $200.79 million across
two classes of senior notes and one class of
mezzanine notes. None of the offered notes will
be rated by any rating agency such as Moody's,
Standard & Poor, or Fitch.
"e securitization represents interest in
a pool of performing, fixed-rate, interest-only,
first lien mortgage loans to real estate investors,
with eligible collateral encompassing transitional
one-to-four-family residential, multifamily, and
mixed-use properties," said a press release on the
announcement. "e deal enjoyed strong demand
and was oversubscribed with broad institutional
participation, backed by strong origination
capacity and the credit performance of the more
than $4 billion in loans originated by Roc360
since 2014."
Nomura Securities International, Inc., acted
as sole lead structuring agent of the transaction.
Morgan Stanley & Co. LLC served as joint
bookrunner and co-lead manager on the
transaction.
"e securitization features a two-year
revolving period during which principal
collections on the underlying mortgage loans can
be used to purchase additional loans and fund
rehabilitation draws. Credit enhancement for the
transaction includes subordination of the notes,
overcollateralization, and excess spread."
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