Ready-Capital-stock-RC-LISTED-NYSE

Ready Capital (NYSE: RC) Rings The Opening Bell®

On July 25, 2023, the New York Stock Exchange welcomed Ready Capital to the podium to celebrate their recent merger with Broadmark Realty Capital.

About
Ready Capital

Ready Capital (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances, and services small- to medium-sized balance commercial loans.

Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program.

Headquartered in New York, New York, the Company employs over 600 professionals nationwide.

About Waterfall Asset Management

Waterfall Asset Management is a global alternative investment manager focused on specialty finance opportunities within asset-backed credit, whole loans, real assets, and private equity.

Founded in 2005, the firm utilizes a relative value approach for sourcing and investing in the private and public markets, across 60+ sectors of the asset-based finance arena. Through this multi-sector specialization, Waterfall seeks to provide its clients a compelling risk/return profile that is generally uncorrelated to most traditional investment opportunities.

Waterfall is headquartered in New York City, with additional offices in London, Dublin, and Hong Kong. As of September 1, 2022, Waterfall manages approximately $11.2 billion in assets under management.

Richard Katzenstein
Adam Zausmer - Waterfall Asset Management

Ready Capital story

From our early beginnings to today, learn more about the company history and milestones that contributed to our growth in commercial real estate financing.

Fund formation

November 2011

Ready Capital, then Sutherland Asset Management, was founded.
Fund formation

REIT

November 2013

Ready Capital was converted into a REIT.
REIT

ZAIS Financial Corp.

November 2016

Completed $150 million acquisition of ZAIS Financial Corp., a publicly traded residential REIT focused on non-agency and agency RMBS securities, in a stock and cash transaction.
ZAIS Financial Corp.

Sutherland

September 2018

Sutherland Asset Management changed its name to Ready Capital Corporation, streamlining the firm’s lending products and client services. Changed the ticker symbol to trade under NYSE:RC.
Sutherland

Owens

March 2019

Completed $200 million acquisition of Owens Realty Mortgage, a publicly traded commercial REIT focused on middle-market commercial real estate loans, in a stock-for-stock transaction.
Owens

Knight Capital Funding

October 2019

Completed $27.8 million acquisition of Knight Capital Funding, LLC, a technology-driven platform that provides working capital to small- and medium-sized businesses, in a stock and cash transaction.
Knight Capital Funding

Answorth

March 2021

Completed $385 million acquisition of Anworth Mortgage Asset Corporation, a publicly traded residential REIT focused on agency and non-agency RMBS, in a stock and cash transaction on March 19.
Answorth

Red Stone Co.

July 2021

Completed $75 million acquisition of Red Stone, a privately owned real estate finance and investment company that provides innovative financial products and services to the multifamily affordable housing industry, in a stock and cash transaction on July 31.
Red Stone Co.

$11B total originations

December 2021

Surpassed $11 billion in total originations and $4.9 billion YTD through December 31st.

$11B total originations

Mosaic Real Estate Credit

March 2022

Completed $550 million acquisition of the Mosaic Funds, a group of privately held, real estate structured finance opportunities funds, with a focus on construction lending, in a stock-for-stock transaction on March 16.
Mosaic Real Estate Credit

$10 billion in total bridge originations

March 2023

Exceeded $10 billion in bridge originations, comprising over 500 loans, since the launch of the bridge program in 2015.
$10 billion in total bridge originations

Broadmark Realty Capital

June 2023

Completed $787 million merger with Broadmark Realty Capital, Inc. (“Broadmark “) (NYSE:BRMK) a specialty real estate finance company that specializes in originating and servicing residential and commercial construction loans.

As a result of the Broadmark merger, which was a stock-for-stock transaction completed on June 1, Ready Capital’s equity capital increased to approximately $2.8 billion.
Broadmark Realty Capital