Company: RITM-PC
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001556593-25-000024
Chunk: 201

Company: Rithm Capital Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 1
Chunk 201
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 contract with BTR (the “Construction Contract”) to purchase 171 SFR properties that are scheduled to be built by BTR on the purchased land in accordance with the plans and specifications approved in accordance with entry into the Construction Contract, for an aggregate purchase price of $49.0 million. The aggregate purchase price is payable in installments in accordance with the draw schedule set forth in the Construction Contract, and delivery of the homes is expected to begin in the third quarter of 2025. As of June 30, 2025, $38.1 million of the aggregate purchase price remains outstanding.•Residential Transition Loans — Genesis had commitments to fund up to $1.6 billion of additional advances on existing mortgage loans as of June 30, 2025. These commitments are generally subject to loan agreements with covenants regarding the financial performance of the customer and other terms regarding advances that must be met before Genesis funds the commitments. •Commercial Investments — Rithm Capital has invested in various commercial real estate projects. As part of its investments, Rithm Capital is required to fund its pro rata share of future capital contributions subject to certain limitations. As of June 30, 2025, the Company has an unfunded capital commitment to fund up to $81.8 million on an existing loan to a certain commercial real estate borrower.•Fund Commitments — As of June 30, 2025, the Company has unfunded capital commitments of $300.7 million to certain funds Sculptor manages, of which $48.3 million relates to commitments of consolidated funds. Approximately $131.7 million of the commitments will be funded by contributions to Sculptor from certain current and former employees and executive managing directors. Sculptor expects to fund these commitments over approximately the next 8 years. Sculptor has guaranteed these commitments in the event any executive managing director fails to fund any portion when called by the fund. Sculptor has historically not funded any of these commitments and does not expect to in the future, as these commitments are expected to be funded by Sculptor’s executive managing directors individually. During the first quarter of 2025, the Company entered into a consolidated joint venture with a third party to acquire an interest in an affiliated fund. As of June 30, 2025, the unfunded capital commitment to the consolidated joint venture was $149.5 million, of which $119.6 million is expected to be funded by the third-party.Non-Recourse Carve-Out, Construction Completion, Environmental and