ATLANTA – (COMMERCIAL THREAD) –Angel Oak Capital Advisors, LLC (“Angel Oak Capital”) completed the AOMT 2020-SBC1, a securitization of $ 164.3 million fully backed by small commercial loans issued by a subsidiary of Angel Oak Capital. The securitization was rated by DBRS and the senior AAA tranche was oversubscribed.
“The completion and success of this securitization is a testament to our firm’s commitment and careful approach to this specific area of the commercial real estate market, where we see an excellent opportunity to deliver value to borrowers. and investors, ”said Ben Easterlin, Managing Director of Angel Oak Commercial Lending.
OMT 2020-SBC1 includes 236 loans across all commercial real estate asset classes. Loans are primarily focused on commercial properties including light industrial properties, office, mixed use and retail. In addition, one-third of the loans have residential components that include multi-family, duplex and triplex living spaces, and mobile home parks. The portfolio had an average loan-to-value ratio of approximately 61% and a debt service coverage ratio of 1.50.
“We have had notable success in our vertical integration model, where we can control all aspects of the process, from origination to securitization of residential mortgages,” said Berkin Kologlu, senior portfolio manager. “We have applied this same model to the commercial sector in order to continue to offer attractive opportunities like this to investors in the future. ”
Along with this securitization, Angel Oak Commercial Lending recently hired two industry veterans, Nik Chillar and Rick Gallitto, who will help Easterlin grow the business as co-chairs of the company. Angel Oak Commercial Lending is actively initiating new loans and improving its current practices and staff under the supervision of Chillar and Gallitto.
For loan requests, please visit www.angeloakcl.com.
About Angel Oak Capital Advisors, LLC
Angel Oak Capital Advisors is an investment management firm focused on providing attractive fixed income investment solutions to its clients. Backed by a value-driven approach, Angel Oak Capital Advisors seeks to generate attractive risk-adjusted returns through a combination of stable current income and price appreciation. Its experienced investment team seeks out the best opportunities in fixed income securities, with a specialization in mortgage-backed securities and other areas of structured credit.
For more information, please visit www.angeloakcapital.com.
About Angel Oak Commercial Lending, LLC
Angel Oak Commercial Lending is a specialty finance company providing solutions to meet the underserved financing needs of commercial property owners, developers and investors. The company provides rapid and efficient access to debt markets for transitional and stabilized value-added projects. Angel Oak Commercial Lending offers senior mortgages, mezzanine loans and bridging loans on all categories of commercial assets in the United States.
For more information, please visit www.angeloakcl.com.