Toorak Capital Partners LLC. (“Toorak”), one of the leading capital providers to the residential real estate lending industry, reflects on the multifaceted growth the firm experienced in 2021 as it looks ahead to continued expansion and success in 2022.
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Toorak 2021 Milestones
Founded in 2016, Toorak has now provided more than $7.5 billion in capital for real estate loans, and funded housing for over 30,000 families, at a rate of around 1,000 units per month in 2021. The median household income of areas where Toorak has funded projects is $63,000, roughly 20% below the $78,000 median household income in the U.S. in 2020.
In 2021, Toorak was recognized with three major industry awards: “2021 Bridging Funding Partner of the Year” from Bridging & Commercial, “Capital Provider of the Year” from the Pitbull Conference, and was named to the Inc. 5000, with three-year revenue growth of 411%.
Since inception, Toorak has issued $2+ billion in securitizations across seven securitizations, including five revolving deals backed by bridge loans on transitional properties and two rated investor (DSCR) deals backed by long-term investor loans on rental properties.
Toorak launched Toorak Connect, a fast and easy proprietary loan buying system for local partners to quickly sell/buy loans online and gain full transparency into the entire process. Toorak now works with over 70 lenders across the US and UK, many of whom improved their ability to impact local communities through access to capital made available by Toorak. These lending partners originate high credit quality loans to local real estate investors who renovate, repurpose, and reposition units for families.
Toorak grew its multifamily focus, with a dedicated team of multifamily/CRE credit experts and named C. Lamar Myers as Head of Business Development for Multifamily. The company also brought decades of mortgage finance and securitization expertise to its board of directors with the appointments of Francis Byrne and Kevin Chavers. The company now has close to 100 full-time employees across three offices.
Toorak’s Investor/DSCR deals received ratings from nationally recognized statistical rating organizations (NRSROs): S&P Global Ratings and KBRA.
As a pioneer in the private lending industry, Toorak has led the way in institutionalizing best practices and working to remove the stigmatized label of “hard money.”
With capital commitments from entities managed by KKR, a leading global investment firm, Toorak Capital Partners has revolutionized the way business purpose residential real estate lenders access capital. The firm 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 and 30-year single family rental lending space.
To learn more about Toorak Capital Partners’ correspondent lending platform, please contact the firm at toorakcapital@toorakcapital.com or 212-393-4100.
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. Toorak-funded projects have renovated, stabilized or provided rental housing for more than 30,000 families to date – an average of approximately 1,000 families per month in 2021.
Further information is available at www.toorakcapital.com.
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