Rithm Capital, a USD 63 billion alternative asset manager and publicly traded mortgage REIT, announced that Genesis Capital, its commercial real estate lending subsidiary, successfully completed a USD 375 million securitisation of US multifamily mortgage loans. This move underscores the company's continued activity in the financing sector.
The completed transaction represents the first securitisation focused purely on multifamily properties that Genesis has undertaken since being acquired by Rithm Capital in 2021. According to Rithm Capital, multifamily loan originations account for 40 per cent of Genesis' total origination volume, highlighting their strategic importance to the company.
Securitisation Details and Market Integration
The Commercial Mortgage-Backed Securitisation (CMBS), designated NRMLT 2026-RTL1, is collateralised by a pool of 55 loans originated by Genesis for various multifamily development projects and existing properties. Performance Trust Capital Partners acted as the lead bookrunner. Other bookrunners included Barclays, Deutsche Bank, Goldman Sachs, Nomura, and Wells Fargo.
Sanjeev Khanna, Managing Director at Rithm Capital, stated that the structure of the securitisation allows Genesis Capital to partner with investors in the multifamily sector for various financing needs. He further explained that this transaction reflects the strength of the owner-operator model, which directly connects Genesis' origination capabilities with the capital markets.
Rithm Capital's Growth and Expansion
Genesis' multifamily loan originations saw a significant increase, rising from USD 160 million in Q1 2024 to USD 637 million in Q2 2026. This demonstrates dynamic development in this segment.
Rithm Capital has shown active acquisition activity in recent years. In September 2025, the company acquired the entire office portfolio of Paramount Group (now known as Elecor Properties) for USD 1.7 billion. Days before this deal, Rithm had already acquired Crestline, a USD 17 billion private credit firm. These acquisitions reflect the company's ambitious strategy to expand its asset base and market reach.
