Rain City Capital has successfully closed its first securitization, securing $200 million backed by residential transitional loans. The oversubscribed transaction highlights investor confidence in Rain City's underwriting and credit performance. Founder Fred Rea emphasized this milestone as a key part of the company's growth strategy.
KIRKLAND, Wash., Oct. 24, 2024 /PRNewswire-PRWeb/ -- Rain City Capital, a leading business-purpose lender providing financing solutions to professional real estate investors for new acquisition, renovation, ground-up construction, and long-term rental hold projects, announced it has successfully closed a $200 million securitization backed by residential transitional loans.
This is the company's first securitization and follows a period of accelerated growth in the lender's 15-year history. The transaction was oversubscribed due to significant interest from investors who were drawn to Rain City's disciplined approach to underwriting, diversified portfolio, and strong credit performance.
"We're excited to close our first securitization, and this transaction represents the natural progression of our growing company," said Fred Rea, Founder and President of Rain City Capital. "It's an important part of our overall strategy for growth. Having committed capital from institutional counterparties allows us to open new markets and drive origination growth."
"I'm proud and grateful to the Rain City team that worked so hard to close our first securitization, said Rea. "The hands-on approach we took to make this securitization possible is real and lasting mutual success at work. It's what keeps our borrowers coming back as repeat clients and we take that responsibility very seriously."
About Rain City Capital
One of the Pacific Northwest's leading private lenders, Rain City Capital specializes in residential and multifamily bridge loans, ground-up construction, and long-term rental loans for real estate investors. With a seasoned team of industry experts and a philosophy of real and lasting mutual success, Rain City is committed to providing financing solutions that support its clients' long-term financial goals. In the past decade, the lender has funded more than $2 billion in transactions for thousands of investors who choose to work with Rain City again and again. For more information, visit www.raincitycapital.com.
Media Contact
Madeline Mohn, Rain City Capital, 1 4254349009, [email protected], www.raincitycapital.com
SOURCE Rain City Capital
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