Asset Based Lending has closed a $200 million unrated securitization, its largest transaction to date, bringing cumulative securitization volume to $723 million.
The company’s fourth securitization priced October 15 and closed October 26. It is backed by a diversified pool of business-purpose residential real estate loans, including a substantial concentration of ground-up infill construction financing.
The transaction supports a lending platform that finances property purchases, renovations, new construction and long-term refinancing.
Founded in 2010, Asset Based Lending has originated more than $4.4 billion in loans. Its products cover single-family, multifamily and mixed-use properties.
The company said it completed the securitization amid heightened market volatility and increased investor selectivity. The transaction reached the market in approximately three weeks, making it one of its faster executions.
Collateral spans the Northeast, Sun Belt, Rust Belt and South, reflecting expansion beyond the company’s established Northeast presence.
Management identified institutional investor relationships and a lending track record as important to maintaining capital access. That access supports continued project funding for borrowers across construction and other residential investment activities.
Performance Trust Capital Partners served as structuring agent. Nomura Securities International and Mizuho Securities USA acted as joint bookrunners.
The transaction adds to Asset Based Lending’s funding base as it pursues national growth. Its emphasis on ground-up construction reflects 16 years of experience in that category, according to the company.
CEO Kevin Rodman connected the financing with maintaining competitive pricing for builders. Capital Markets Head Daniel Gotay emphasized consistent funding availability across the life of a borrower’s project.
The securitization’s size and geographic mix illustrate both the expansion of the lending business and its use of capital markets financing to support further originations.
KEY QUOTES:
“We are proud to lead the industry in financing ground-up construction, and to do it at a cost that keeps our pricing competitive for the builders we serve. This transaction underscores the strength of the platform our team has built and the confidence investors have in our credit. Every one of these loans puts new housing on the ground.”
Kevin Rodman, CEO Of Asset Based Lending
“Successfully executing this transaction amid market volatility reinforces the effectiveness of our capital markets strategy and the quality of our platform. We have built durable relationships with institutional investors and established a track record they can underwrite, giving us consistent access to capital. For our borrowers, that is what matters most: they can count on ABL to fund their projects from start to finish.”
Daniel Gotay, Head Of Capital Markets At Asset Based Lending
