"Renovo Management Co. LLC, a nationwide lender to residential real estate investors, closed two senior secured corporate note transactions totaling $74.5 million, the company announced Thursday. The dual-tranche structure received investment-grade ratings from Egan-Jones and HR Ratings, according to the announcement. Brean Capital LLC served as Renovo's exclusive financial adviser and sole placement agent."
"Renovo, founded in 2011 and headquartered in Chicago, has originated more than $12 billion and funded 27,000-plus business-purpose loans to investors. The company operates a nationwide origination network across more than 30 metropolitan statistical areas (MSAs), offering a full suite of business-purpose loan products supported by in-house servicing."
"This transaction will accelerate Renovo's expansion into serving additional markets and offering new products. Dan McLaughlin, Renovo's chief financial officer, said that executing the transaction in a turbulent market environment further validates the strength of our platform and positions the company's balance sheet to pursue new opportunities."
"The move underscores continued investor appetite for credit exposure to business-purpose and investor-focused residential mortgages, even amid higher rates and tighter capital market conditions. For private lenders, nonbank lenders and warehouse providers, the deal is another data point that well-capitalized, specialized platforms can still tap investment-grade debt markets."
Renovo Management Co. LLC closed two senior secured corporate note transactions totaling $74.5 million. The dual-tranche notes received investment-grade ratings from Egan-Jones and HR Ratings. Brean Capital LLC acted as exclusive financial adviser and sole placement agent. Renovo, founded in 2011 and headquartered in Chicago, has originated more than $12 billion and funded 27,000-plus business-purpose loans. The company operates a nationwide origination network across more than 30 metropolitan statistical areas and offers business-purpose loan products supported by in-house servicing. Management said the transaction supports expansion into additional markets and new products, and demonstrates platform strength in a turbulent market. The deal reflects investor demand for credit exposure to investor-focused residential mortgages and business-purpose lending despite higher rates and tighter capital markets.
#residential-real-estate-lending #investment-grade-debt #nonbank-lending #private-credit #warehousefinancing
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