Rithm Capital Closes $375M Securitization of Multifamily Loans

Rithm Capital continues to make moves.

Michael Nierenberg’s $63 billion alternatives firm and publicly traded mortgage real estate investment trust announced Wednesday that Genesis Capital, its commercial real estate originations subsidiary, closed a $375 million securitization of U.S. multifamily loans. 

The deal is the first multifamily-only securitization Genesis has closed since Rithm Capital acquired the firm in 2021. Multifamily loan originations represent 40 percent of Genesis’ total origination volume, according to Rithm Capital. 

The commercial mortgage-backed securitization — NRMLT 2026-RTL1 — is collateralized by a pool of 55 loans originated by Genesis for different multifamily developments and existing projects.  

Performance Trust Capital Partners served as lead bookrunner. Other bookrunners included Barclays, Deutsche Bank, Goldman Sachs, Nomura and Wells Fargo. 

Sanjeev Khanna, managing director at Rithm Capital, noted in a statement that the securitization structure allows Genesis Capital the ability to work with multifamily investors on various financing needs. 

“This transaction reflects the strength of our owner-operator model, connecting Genesis’ origination capabilities directly to the capital markets,” he added.

Genesis’ multifamily loan originations have increased substantially, rising from $160 million in the first quarter of 2024 to $637 million in the second quarter of 2026, the firm said. 

Rithm Capital has been busy in recent years. The firm acquired the entire office profile of Paramount Group (now known as Elecor Properties) for $1.7 billion in September 2025, a deal that came days after Rithm acquired Crestline, a $17 billion private credit firm, in an ambitious push to expand the firm’s asset base.

Brian Pascus can be reached at bpascus@commercialobserver.com.