SUMMIT, N.J.--(BUSINESS WIRE)--Toorak Capital Partners (Toorak), the largest capital provider to the residential bridge real estate lending industry, reflects on a year in which the company issued the largest residential bridge securitization deal, quickly adapted to the Covid-19 pandemic, and continued to fund loans and construction draws throughout the year. Despite the global pandemic and a series of market challenges, the company grew staff by 45% from 2019, adding nine new senior executives. Toorak’s efforts were recognized with seven major awards, including the fastest growing company in New Jersey, the third fastest growing company in the NYC metro area and top industry awards in the U.S. and U.K.
"Though 2020 has been a challenging year in many ways, we’ve been able to add to our great team, technology and products while still funding new loans and expanding our product offerings,” said John Beacham, CEO of Toorak. “These additions have allowed us to continue to institutionalize the residential bridge lending space over the past twelve months. As we continue to improve our platform, we remain focused on greater innovation that will enable our lending partners to offer stable funding and better terms to an expanding pool of borrowers."
Toorak, which has funded close to $5 billion in loans since its inception in 2016, took home seven total industry awards, including:
- Crain’s New York Business’ #3 Fastest Growing Company in New York Metro Area
- NJBIZ #1 Fastest Growing Company in New Jersey (second year in a row)
- American Association of Private Lenders’ ‘Lender Member of the Year’ Award
- Bridging & Commercial’s ‘2020 Bridging Funding Partner of the Year’ Award
- New Jersey Business & Industry Association ‘2020 Executive of the Year’ Award to CEO John Beacham
- ‘Capital Provider of the Year’ from the Pitbull Conference
- HousingWire’s '2020 HW Woman of Influence' Award to Principal, Aleksandra Simanovsky
Importantly, Toorak has made significant human capital additions over the past twelve months, including industry veterans Carole Mortensen as Head of Credit, Ketan Parekh as Head of Business Development and Capital Markets, Arnold Cohn as Chief of Staff, Joseph Kohout as Principal, Frank Shiau as Head of Trading, Stephen Tyde as Head of Special Servicing, Jason Ward as Deputy Head of Credit and Daniel Hall as Principal. The company also hired Sachin Venugopal as Chief Technology Officer to spearhead a major investment in technology which will enable Toorak’s lending partners to submit their loans digitally and access real-time insights on every step of the loan submission process.
"We are proud that 75% of the loans we fund are used to build or renovate housing that is affordable to median earning families in their neighborhoods," said Beacham. "Our capital also enables local real estate entrepreneurs who want to start or grow their own businesses."
To learn more about Toorak Capital Partners, please contact the company at email@example.com or 212-393-4100.
About Toorak Capital Partners
Toorak Capital Partners is an integrated correspondent lending platform based in Summit, NJ. Toorak funds small balance business purpose residential, multifamily and mixed-use loans throughout the U.S. and the United Kingdom. Backed by global investment firm KKR, Toorak acquires loans directly from private lenders that originate high credit quality loans. Toorak’s principals have a deep understanding of mortgage credit in the residential and commercial space with backgrounds in real estate lending, capital markets, securitization, asset-liability management, asset management and credit. Toorak-funded projects have renovated or stabilized housing for more than 17,000 families to date – an average of more than 500 families every month.
Further information is available at www.toorakcapital.com.