NEW YORK, August 14, 2023 /PRNewswire/ — Roc Capital Holdings LLC (“Roc360”, the “Company”), a vertically integrated platform for residential real estate investors and a leading originator of business-purpose loans, and Temasek, a global investment company headquartered in Singapore, today announced the launch of Roc360 Real Estate Income Trust Inc (“Roc360 REIT”).
The externally managed mortgage REIT will invest in business purpose loans for residential real estate investment properties principally originated by Roc360.
Since its founding, Roc360’s core focus has been to connect the highly fragmented business of residential investment property lending with institutional capital through an “originate-to-sell” business model. The formation of the Roc360 REIT establishes Roc360’s presence as an asset manager, which will enable the Company to further diversify its base of committed capital to enhance the certainty of capital for its borrowers.
“As demand for our assets has increased, we view the Roc360 REIT as an opportunity to secure more funding for our customers by diversifying our range of capital sources,” said Arvind Raghunathan, Ph.D., Roc360 Founder and Chief Executive Officer. “We are honored to partner with Temasek on this important endeavor, which will have a beneficial impact on our customers’ ability to scale their businesses in combating the shortage of affordable, energy efficient homes in this country.”
The partnership between Roc360 and Temasek highlights the continued interest in US residential real estate from the international investor community.
“This year, we have taken a number of steps to grow our origination capabilities both organically and via acquisitions. As such, we view the Roc360 REIT as a natural extension of our platform, which binds best-in-class origination capabilities and diverse, committed and scalable capital through technology and data which provides our borrowers certainty of execution and a streamlined process. We are excited to provide an alternate funding model for this segment of the industry outside of whole loan purchases and securitization markets,” said Maksim Stavinsky, Co-Founder and President of Roc360.
In addition to the REIT, Roc360 will maintain and expand its existing loan purchase programs and asset management solutions to accommodate its growing origination footprint.
Deutsche Bank Securities Inc. served as sole structuring agent for this transaction.
Prior to Roc360, the company’s founding partners and its leadership team had extensive experience in founding and/or serving in senior capacities in asset and risk management roles at a range of global financial institutions.
Temasek is a global investment company with a net portfolio value of S$382 billion (US$287 billion) as of March 31, 2023.
Our Purpose “So Every Generation Prospers” guides us to make a difference for today’s and future generations. As an active investor, forward looking institution and trusted steward, we are committed to deliver sustainable value over the long term. Temasek has overall corporate credit ratings of Aaa/AAA by rating agencies Moody’s Investors Service and S&P Global Ratings respectively.
Headquartered in Singapore, we have 13 offices in 9 countries around the world: Beijing, Hanoi, Mumbai, Shanghai, Shenzhen, and Singapore in Asia; and London, Brussels, Paris, New York, San Francisco, Washington DC, and Mexico City outside Asia.