Our attorneys represented the placement agents in Colony American Finance’s securitization of loans secured primarily by single-family rental properties. The securitization is valued at $252 million.
This unique transaction involves a relatively new asset class - a cross between commercial and residential mortgages - and a new structure for the asset class, utilizing a Cayman Islands issuer of secured notes rather than a REMIC pass-through structure.
Colony American Finance is one of the first companies to complete a securitization of loans backed by single-family rental properties. Most previous securitizations of single-family rental properties have involved securitization of a single loan backed by all properties involved in the transaction.
Our attorneys previously advised on the warehouse financing of most of the loans included in this securitization transaction.