We are advising Genesis Capital and affiliates of Goldman Sachs on the transaction

Davis Polk is advising Genesis Capital LLC and affiliates of Goldman Sachs on the sale of Genesis Capital and a related portfolio of loans to New Residential Investment Corp. The transaction is targeted to close during the fourth quarter of 2021, subject to certain approvals and customary closing conditions. Financial terms of the transaction were not disclosed.

Genesis offers various funding options to the nation’s top residential single- and multi-family real estate developers, leveraging its expertise, proprietary data and long-term borrower relationships. New Residential is a leading provider of capital and services to the mortgage and financial services industry. New Residential is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes and is managed by an affiliate of Fortress Investment Group LLC.

The Davis Polk corporate team includes partner John D. Amorosi and associates Sharanjit Kaur Sandhu, Ben Montgomery and Eugenia S. Lee. The tax team includes partner David H. Schnabel and associate Joshua J. Micelotta. The executive compensation team includes partner Travis Triano and associate Charlotte Fabiani. Partner Hilary Dengel and associate Jack Orford are providing finance advice. Associate Brette L. Trost is providing intellectual property advice. All members of the Davis Polk team are based in the New York office.

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