Asset-backed returns from mortgage notes. Downside-first.
VRB Capital acquires sub-performing and non-performing mortgage notes secured by U.S. real estate. The firm underwrites to verified collateral value — not the coupon — and manages each position to resolution in-house.
VRB Capital is a U.S. private credit firm specializing in the acquisition and active management of sub-performing and non-performing mortgage notes, targeting positions between $0.5M and $10M+ unpaid principal balance (UPB) secured by residential, multifamily, and hospitality real estate. Every acquisition is underwritten to current as-is collateral value and executed at a disciplined basis. Returns are generated through loan modification, discounted payoff, short payoff, or REO disposition — resolved in-house.
Track record
- 0.0% realized loss rate — zero principal loss on fully resolved loans
- 15% minimum IRR delivered on all fully resolved loans
- $2.5B+ lifetime transaction volume across 36 years of professional experience
- $71.3M+ capital advised across 50+ completed transactions since 2022
Three asset classes, one underwriting discipline
Residential — Single-Family Notes
First or second-lien notes on 1–4 unit residential real estate. Typical UPB $0.5M–$1M; target CLTV 70–85%; resolution in 6–18 months.
Multifamily — Small-Balance Loans
First-lien notes on multifamily properties. Typical UPB $0.5M–$10M; target LTV 70–80%; resolution in 12–36 months.
Hospitality — Hotel & Hospitality Notes
First-lien notes on limited-service and select-service hospitality assets. Typical UPB $1M–$10M+; target CLTV 70–80%; resolution in 12–36 months.
The investment process
Every loan moves through the same five-step framework: Source (direct relationships with banks, special servicers, and loan sale advisors), Underwrite (two independent collateral valuations; a minimum of three exit paths modeled), Acquire (disciplined basis, typically 60–90% of UPB), Manage (active borrower engagement, monthly review), and Resolve (modification, discounted payoff, short payoff, or REO disposition).
Managing Partner
Sachin Batra founded VRB Capital in 2020. Previously Managing Director at Religare Global Asset Management, overseeing $2.5B+ in aggregate transaction volume. MBA, Carnegie Mellon (Tepper). 36 years of professional experience, including 22+ years investing and 16+ years in commercial real estate.
