Toorak Capital Partners Reaches $10 Billion Milestone
Industry-Leading Real Estate Funding Platform Has Funded 26,000+ Mortgage Loans in Since Inception
Toorak Capital Partners, Inc. (“Toorak”), a leading capital provider to the residential real estate lending industry, announced that it has funded $10 billion in whole loans since its inception in 2016. To date, the company has funded more than 26,000 small-balance business-purpose loans backed by residential, multifamily, and mixed-use properties across the U.S. and the U.K., enabling the construction, renovation or purchase of over 50,000 rental and owner-occupied units.
“We’re extremely proud of the progress we’ve made as a company, and excited to reach this groundbreaking milestone,” said Toorak CEO John Beacham. “When we first started Toorak, we saw an opportunity to provide stable, long-term capital to a fragmented industry with a lack of efficient financing alternatives, and to address the national housing shortage by enabling investors to bring units to the market. This achievement is a testament to the hard work of our entire team and the originators we work with.”
By strategically partnering with lenders who originate high credit standard loans, and then using institutional capital to acquire the loans shortly after origination, Toorak frees up originator capital, enabling them to make more loans to other small businesses. Toorak then funds these loans in the capital markets while retaining credit risk, generating more capital to fund more loans. To date, the company has issued $3.1 billion in securitizations across eleven deals, three of which have been fully repaid.
Building on the initial success of its rehab loan product, Toorak’s focus has expanded over time to new geographies and new products, including ground up construction loans, multifamily loans, and 30-year single family rental /DSCR loans.
“Toorak’s growth is a testament to John and the team’s success at building a leading real estate loan investment platform and substantially improving financing options in the real estate mortgage market,” added Avi Korn, Managing Director at KKR. “We are proud of this $10 billion milestone for the company and look forward to celebrating many future milestones together.”
With capital commitments from entities managed by KKR, a leading global investment firm, Toorak has revolutionized the way business purpose residential real estate lenders access capital. Toorak was the first to link small-balance commercial and residential originators with institutional capital and has perfected this approach in the single-family residential bridge, multifamily bridge and 30-year single family rental lending space.
About Toorak Capital Partners
Toorak Capital Partners is an integrated correspondent lending platform based in Summit, NJ. Toorak acquires small-balance, business-purpose loans backed by residential, multifamily, and mixed-use properties throughout the U.S. and the U.K. Toorak acquires loans directly from lenders that originate high credit quality loans. Toorak’s principals have a deep understanding of mortgage credit in the residential and commercial space with backgrounds in real estate lending, capital markets, securitization, asset-liability management, asset management and credit. Since inception, Toorak has provided more than $10 billion in capital and funded over 26,000 mortgage loans. Toorak-funded projects are expected to renovate, stabilize or provide rental housing for over 50,000 families.
Further information is available at www.toorakcapital.com.
