Velocity Enters into Agreements to Acquire Toorak’s Operating Platform and Manage Toorak’s $3 Billion Business-Purpose Loan Portfolio
Velocity Financial agreed to acquire Toorak Capital’s operating platform and manage a $3 billion business-purpose loan portfolio as part of a transaction estimated at $3.2 billion. The deal scales Velocity's origination platform by 76% and servicing platform by 39%, while adding a direct retail channel and expanding geographic reach into the UK.
Key figures
- Loan count
- 43,000
- Employee count
- 280
- Portfolio managed upb
- $3 billion
- Total transaction value
- approximately $3.2 billion
- Cumulative volume funded
- $20 billion
- Servicing scale increase
- 39%
- Origination scale increase
- 76%
AI analysis
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