Saluda Grade Delivers Spring EQ to Securitization Market

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$146 Million Deal Backed by Closed-End Second Liens

Saluda Grade Asset Management (“SGAM”), a private alternative real estate investment firm, today announced the successful closing of its 3rd securitization since July 2020. The transaction, GRADE 2020-SEQ1, closed on December 8th and is backed by qualified mortgage closed-end second liens originated by Spring EQ, a Philadelphia-based private lender.

The issuance marks the first securitization backed exclusively by Spring EQ-originated home equity loans and the second time Saluda Grade has brought a first-time originator to market this year.

“As our platform continues to grow, Saluda Grade is well-positioned to drive value for our investors, while also delivering attractive, in-demand assets to the institutional capital markets,” said Ryan Craft, CEO of Saluda Grade. “Providing homeowners access to equity in their homes is a massive opportunity and we’re focused on broadening that market.”

The deal closes out a busy year for SGAM, which launched its flagship fund, Saluda Grade Opportunities Fund, in April 2020 and that fund has now sponsored over $550 million in real estate-backed securitizations.

About Saluda Grade:

Founded in 2019, Saluda Grade is a boutique real estate advisory and asset management firm focused on the alternative “non-bank” lending sector. Saluda Grade Advisory advises small to mid-sized lenders seeking institutional capital markets expertise and delivering institutional capital to private lenders. Saluda Grade Ventures, the firm’s equity investment arm, currently manages two private funds. Saluda Grade Asset Management manages debt funds investing in transitional mortgage loans and distressed securitized product assets.

With offices in New York and San Francisco, the company is driven by a core mission to identify alternative lending sectors needing institutional capital to fuel growth. Its management team has more than 85 years of combined experience in the mortgage and securitized credit space. The firm has deep relationships with both private lenders and capital providers that allow Saluda Grade to bring attractive assets to institutional investors.

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Ashleigh Carone
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