Archwest Capital, a private lender to residential real estate investors, reported Wednesday that it closed its first rated securitization backed by $300 million in residential transition loans (RTLs).

The transaction was oversubscribed by nearly five times, signaling strong investor appetite for business-purpose RTLs.

“As we continue expanding our lending footprint nationwide, securitizations like these enhance our ability to deliver certainty and scale for real estate investors,” said Shawn Miller, Archwest’s CEO and founder. “Our borrowers depend on speed, reliability, and consistency of execution. This transaction reinforces our commitment to providing exactly that across market cycles.”

The securitization issued notes in four classes (A1, A2, M1, M2) that were rated by Morningstar DBRS. The collateral pool included 318 loans with an unpaid principal balance of about $274 million and $41 million in cash.

The structure has a two-year revolving period, allowing principal payoffs to be reinvested in new loans. Credit protections include subordination, overcollateralization and excess spread.

Goldman Sachs and Barclays were joint bookrunners. Resolute provided due diligence and FCI Lender Services Inc. is the servicer.

Archwest, which surpassed $1 billion in cumulative originations earlier this year, said it expects to top $2 billion by the end of 2025. The firm has originated more than $1.5 billion across 44 states since its inception, with global asset manager Bain Capital taking a majority stake in the company in 2024.

“Closing our inaugural rated securitization amid a year of record growth marks a pivotal milestone for Archwest,” said Kieran Brady, the company’s chief financial officer. “By deepening our capital and attracting a diversified investor audience, we’re strengthening our platform to support professional builders, developers, and investors who are driving the nation’s housing supply forward.”

Archwest’s securitization is the latest in in a string of similar RTL deals reported by HousingWire.

In July, Rithm Capital — the parent of multichannel mortgage lender Newrez — struck a deal with an undisclosed institutional investor to potentially acquire up to $1.5 billion in RTLs.

That same week, alternative asset manager Fidelis Investors closed its second rated securitization of RTLs. The $144.5 million, two-year revolving securitization was backed by 308 RTLs originated by 24 different lenders.

Another leading private lender, Kiavi, continues to be active in RTLs securitizations and has offered more than $5.8 billion in notes since 2019.


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