Cardinal Capital Group has completed its first residential transitional loan securitization backed by $130 million in collateral, marking a pivotal milestone in the company’s capital markets strategy and expanding its ability to fund residential real estate developers nationwide. The securitization, known as Cardinal Mortgage Trust 2025-RTL1, attracted strong, oversubscribed investor demand, reflecting confidence in the company’s credit platform and disciplined underwriting approach.
The securitization was initially supported by 94 residential transitional loans tied to approximately 365 housing units, with more than 70 percent of the collateral backing housing in Massachusetts. The structure includes a two-year revolving period that enables Cardinal to reinvest loan payoffs and continue growing its origination volume.
Founded in 2021, the company has originated more than $1.5 billion in business-purpose residential loans and continues to scale across New England and select national markets. Its platform supports acquisition, renovation, construction, and bridge to rental projects, backed by institutional financing partners and a capital markets strategy that emphasizes long-term stability.
Support/legal: Performance Trust Capital Partners served as the sole structuring agent, bookrunner, and initial purchaser. Dechert acted as legal counsel to Cardinal, and Mayer Brown represented Performance Trust. Adige Asset Advisory provided operational optimization support throughout the securitization process.
KEY QUOTES:
“Our inaugural securitization highlights the strength of our credit platform and validates investor confidence in our lending model. This transaction directly enhances our capacity to deliver the certainty, speed, and reliability our borrowers depend on.”
Briana Hildt, Chief Executive Officer
“Diversifying our capital base is essential to supporting real estate investors nationwide. This transaction strengthens liquidity for builders and developers who are creating and revitalizing housing supply across the country.”
Dominic Blad, Chief Investment Officer
