Velocity Financial agrees to buy Toorak Capital operating platform in $3.2 billion deal
VEL•Velocity Financial to acquire Toorak operating platform
- Velocity Financial agreed to buy Toorak Capital’s operating platform in a 100% cash deal, targeting a fourth-quarter 2026 close.
- Toorak separately agreed to sell about $3 billion of business-purpose loans to a third-party investment firm.
- Velocity will manage the acquired portfolio under contract, positioning the Toorak platform to shift toward a capital-light model.
- Total value of the platform and portfolio transactions is estimated at about $3.2 billion, based on Toorak’s June 30, 2026 balance sheet.
- Toorak will keep its brands and Tampa headquarters; CEO John Beacham will join Velocity Commercial Capital as an executive vice president.
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