Rithm Capital announced a partnership to fund $500 million in residential transitional loans through an unnamed institutional investor. The fund will be managed by Rithm Capital Advisors LLC, while its subsidiary, Genesis Capital LLC, will service the loans. Rithm is transitioning from a real estate investment trust into a global asset manager. The company has reported net income of $80.7 million in Q1 2025 and is actively acquiring assets, including consumer loans and other management firms.
Rithm Capital Advisors LLC will manage the funds, while Genesis Capital LLC, Rithm's subsidiary focused on RTL lending, will service the loans.
Rithm sees opportunities to capitalize on compelling opportunities in the growing residential transitional loan sector, reinforcing commitment to expanding Rithm's asset management capabilities.
In the first quarter of 2025, the company reported $80.7 million in net income, down from $291.9 million in the previous quarter.
Rithm has diversified from a REIT into a global asset manager, with origination, underwriting, and servicing capabilities in its operating companies.
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