The securitization is Unison's second under DBRS Morningstar's
ratings criteria for the U.S. Home Equity Investments asset
class
SAN
FRANCISCO, June 5, 2024 /PRNewswire/ -- Unison,
the pioneer of equity sharing agreements, closed
a securitization of $215 million
of assets, supporting the U.S. Home Equity Investments (HEI) asset
class and increasing access to institutional investors who want to
participate in this emerging sector. This securitization is the
second of Unison's to take place after DBRS Morningstar finalized
their ratings criteria for the burgeoning asset class in
2023.
DBRS Morningstar rated Unison's senior bond BBB, and the
mezzanine bond BB, setting the precedent for this and future rated
securitizations to take place.
Unison's equity sharing agreements help homeowners who otherwise
struggle to harvest their trapped equity, as the longtime available
solutions require them to take on enormous additional debt. This
transaction further enables Unison to empower homeowners to
renovate their homes, save for retirement, and consolidate their
debt, rather than drastically exacerbating it. Unison is proud to
provide this innovative alternative both for homeowners in need and
investors pursuing efficient and scalable investment opportunities
into one of the largest asset classes in the world: owner-occupied
residential real estate.
The transaction closed June 5,
2024 and included Nomura as structuring agent and
bookrunner. Mayer Brown LLP served as the legal counsel of the
issuer, and Morgan, Lewis & Bockius LLP served as the legal
counsel of the initial purchaser.
As Unison's second rated securitization after DBRS Morningstar
finalized the ratings criteria for the HEI asset class, we believe
the transaction is a significant step forward in validating HEI as
a mainstream asset for institutional and other investors. As the
pioneer of the equity sharing agreement, Unison is excited to
continue to innovate on behalf of both homeowners and investors who
seek additional options to suit their needs.
Unison's Chief Investment Officer Matthew O'Hara describes the securitization as
"good news for homeowners and investors alike," as continued
confirmation of HEI as a reliable and gainful asset "will ensure
their availability to those seeking scalable investment
opportunities into owner-occupied residential real estate, as well
as those who could most benefit from an innovative financing
alternative."
As a market leader, Unison Investment Management, LLC (UIM)
helps homeowners access the accumulated value of their homes while
enabling institutional investors to access U.S. residential home
price appreciation. Their portfolios provide low volatility and
high risk-adjusted net returns relative to other major asset
classes.
About Unison:
Unison is a San Francisco and
Omaha-based company that is
pioneering a smarter, better way to own your home. Until now, the
only way to harvest hard-earned equity was by selling your home, or
taking on enormous additional debt. Through Unison residential
equity agreements, we help homeowners access their equity flexibly
with no monthly payments or interest. We enhance home
affordability, reduce debt, and deliver a less risky way for
homeowners, investors, and society to think about that important
asset - the home. Unison Investment Management is committed to
providing institutional investors extensive transparency and
innovative product offerings for this new asset class. For
additional information, visit www.unison.com and
www.unisonim.com.
Contact:
Helene Ton
Anderson
mediadesk@unison.com
View original
content:https://www.prnewswire.com/news-releases/unison-announces-dbrs-rated-securitization-of-215-million-of-unison-home-equity-sharing-agreements-302165393.html
SOURCE Unison