Bridge lenders
Toorak Capital Partners
Toorak Capital Partners funds loans made by private real estate lenders rather than lending to investors itself. Founded in 2016, it buys and finances business-purpose residential and multifamily loans in the US and UK so originators can recycle capital and keep making loans.
US programs cover 1-4 family bridge and rehab loans up to $7.5M at a maximum 85% loan to cost and 70% loan to after-repair value; multifamily and mixed-use bridge loans on 12 to 24 month terms at up to 75% loan to cost; ground-up construction up to $10M at up to 75% of purchase price with a 90% maximum blended loan to cost including interest reserve; and 30-year DSCR rental loans up to $3.0M with a minimum 0.75x DSCR, 80% maximum LTV, and a 660 minimum FICO. A UK program funds bridging and refurbishment loans up to five million pounds at up to 70% of gross development value. An online sizer returns maximum leverage against the guidelines, and loan acquisition runs through the Toorak Connect platform.
Every loan goes through a full internal and third-party review, with the Toorak team reviewing underwriting exceptions. The team has grown to more than 100 employees across three continents, and the company reports partnerships with 100+ lenders. Funding is supported by capital commitments from entities managed by KKR, bank financing facilities, and a securitization platform.
Becoming a correspondent requires closing loans with your own funds, at least $15M a month in volume, and a company net worth of at least $5M. Mobile home developments, cooperatives, and unimproved raw land are not eligible property types, which matters for anyone underwriting those assets.
Best for
Private lenders and originators of business-purpose residential and multifamily loans who need a reliable take-out buyer for bridge, ground-up, or DSCR paper. Not for real estate investors directly, since Toorak does not originate loans.
What they do
- Residential transitional (RTL) loan funding
- Fix-and-flip and rehab loan purchases
- Ground-up construction loan funding
- DSCR rental loan purchases
- Multifamily and mixed-use bridge funding
- UK bridging and refurbishment loan funding
- Gestation lines of credit for correspondents
Details
| Attribute | Value |
|---|---|
| Founded | 2016 |
| Team size | 51-200 employees |
| Other offices | Tampa, FL |
| How they charge | Correspondent setup costs $10,000, covering the third-party diligence company and some legal costs. |
What stands out
- Founded in 2016 and funds loans from private lenders in the US and UK rather than originating them.
- Reports partnerships with 100+ lenders and a team of more than 100 employees across three continents.
- Supported by capital commitments from entities managed by KKR, bank financing facilities, and a securitization platform.
- Mobile home developments, cooperatives, and unimproved raw land are not eligible property types.
- Correspondent approval requires closing with your own funds, at least $15M a month in volume, and a net worth of at least $5M.
- Lists its headquarters as a Tampa, Florida office on Water Street.
Common questions
- Does Toorak lend directly to real estate investors?
- No. Toorak does not originate loans or provide capital directly to real estate investors. It funds loans made by private lenders, and the lender keeps the customer relationship.
- What is required to become a correspondent lender?
- A lender must be able to close loans with its own funds, be doing at least $15M a month, and have a company net worth of at least $5M. Approval takes roughly 4 to 6 weeks, and setup costs $10,000 to cover third-party diligence and some legal costs.
- Which property types are not eligible for funding?
- Mobile home developments and cooperatives are excluded, as is raw land where lots are not split and individually parceled or where water, sewer, well, or septic are not lateral ready.