The transaction is expected to include a $230 million aggregate principal balance pass-through certificates rated by at least two rating agencies and backed by 144 mortgage loans secured by single-family residential properties, two- to four-unit properties, condominium properties, townhomes, multifamily properties and mixed-use properties. The subordinate classes will be acquired by an affiliate of B2R Finance.
“B2R is pioneering the first securitization of residential investor mortgages in the US to grow its platform, increase the amount of capital available to our clients and enable us to continue our leadership position in growing the asset class,” Jason Hogg, CEO, B2R Finance, said. The transaction is expected to close in April 2015.
B2R was established by funds managed by Blackstone Tactical Opportunities to provide residential buy-to-rent mortgages for property investors, focused exclusively on the financing and growth capital needs of single-family home investors and entrepreneurs.
B2R Finance has announced the industry’s first multi-borrower SFR securitization transaction.