B2R Finance, a lender for single family residential rental property investors, has announced the industry’s first multi-borrower SFR securitization transaction.
The transaction is expected to consist of $230,000,000 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,” said Jason Hogg, CEO, B2R Finance. 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.
The certificates will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The certificates will be offered and sold in the United States in accordance with Rule 144A under the Securities Act or to certain “non-U.S. persons” outside of the United States in accordance with Regulation S under the Securities Act. This press release shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there by any sale of the certificates in any jurisdiction in which such offer, solicitation or sale would be unlawful under the laws of such jurisdiction.