Rithm Capital closes $375 million multifamily residential transition loan securitization
RITM•Rithm Capital closed a $375 million securitization backed entirely by multifamily residential transition loans. The initial collateral includes 55 Genesis-originated loans, and the structure has a two-year reinvestment period.
1. Securitization details
Rithm Capital closed NRMLT 2026-RTL1, a $375 million securitization backed entirely by multifamily residential transition loans. Its initial collateral comprises 55 Genesis-originated loans financing bridge, construction and renovation projects for investor-owned properties, with loans of up to $35 million.
2. Genesis loan activity
The structure includes a two-year reinvestment period to purchase eligible loans and fund committed advances using principal repayments. Genesis multifamily originations rose to about $637 million in the second quarter of 2026 from about $160 million in the first quarter of 2024, and now represent about 40% of commitments. Performance Trust led bookrunning, and Newrez will act as master servicer.
