BETHESDA, MD - September 15, 2023
Temple View Capital, LLC, (“TVC”) a leading provider of private financing to residential real estate investors, closed on a $225 million, 18-month term revolving securitization of unrated residential transition loans (“RTLs”) on September 15, 2023. The RTLs are comprised of rehabilitation, bridge and ground-up construction mortgages originated in urban and suburban markets across the country. This is TVC’s third issuance under its Temple View Capital Funding, LP shelf since 2020.
The securitization includes offered notes in three classes, A1, A2, and M, of which the senior tranches were sold. The deal includes an 18-month revolving period, during which principal payoffs can be reinvested in purchasing additional newly originated loans.
“We have witnessed significant volatility in the credit markets over the past year and the fact that we were able to generate more than 2.5x demand for this offering is testament to TVC’s reputation with investors,” noted President and Co-Founder Mike Niccolini. “Not only was demand strong but we were able to successfully expand our investor base to new market entrants while solidifying our position with institutional investors well established in the sector,” added Co-Founder Steven Trowern.
“TVC remains dedicated to providing innovative and competitive loan products to our base of highly experienced builders and property flippers. The housing market in the United States has remained resilient, driven by an acute lack of supply combined with continuing demand even in a rising consumer interest rate environment,” note Niccolini. “The brightest sectors of the housing market continue to be in new home and refreshed home sales, to which TVC is directly contributing. We remain very bullish on our core mission,” concluded Trowern.
Since its founding in 2017, TVC has originated more than $2.5 billion in RTLs and rental finance mortgages for real estate investors. Led by a highly experienced management team, TVC has emerged as the leading independent private financing source to residential real estate investors looking to acquire, rehabilitate or build homes.
Goldman Sachs was the sole structuring agent of the deal. Performance Trust Capital Partners, LLC were joint bookrunners and co-lead managers on the transaction.
Temple View Capital is a national private portfolio lender that offers flexible financing for investors in residential real estate. Founded by entrepreneurs with more than 20 years of residential mortgage and real estate investment experience, Temple View has been at the forefront of innovative product development since its inception. Utilizing a common-sense underwriting approach, deep commitment to customer service and a well-capitalized balance sheet, Temple View enables real estate investors, correspondent lenders and brokers nationwide to optimize financing efficiency on real estate investment projects and rental properties. For more information, please visit us at www.templeviewcap.com.
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