Rithm Capital preps $371 million single-family rental securitization

Before changing its name, New Residential issued a $267.8 million deal backed by 1,200 properties in January. By the end of the first quarter, Rithm’s real estate investment trust had acquired 3,285 properties.

The firm announced its rebranding to Rithm in June, as well as a major restructuring in its management operations.

“We have changed dramatically since our inception, from an owner of MSR assets to a company with complementary operating companies and a unique portfolio of investments,” said Michael Nierenberg, chairman, CEO, and president of Rithm. “The new name and brand help distinguish us from our operating companies, including Newrez, and reflect our culture, team and ambitions for growth beyond residential mortgages.”