Affordable Tax Exempt
Smart multifamily investors apply advantages of the affordable tax-exempt program in today’s market conditions from our wholly-owned subsidiary, Red Stone.
OVERVIEW
Through our wholly-owned subsidiary Red Stone, our professionals combine extensive real estate experience with capital markets expertise to originate, underwrite, structure, close, and manage multifamily debt and equity investments. Red Stone has established itself as a leader in the field of affordable multifamily real estate finance, backed by flexibility and common-sense underwriting.
Loan Amount
$1,095,250
Loan Purpose
The Small Business
Blake Roses
Sunny Isles Beach, Florida
The Financing Challenge
A husband and wife came to Ready Capital with the goal of becoming first-time business owners. They had their eye on a florist studio that had served Sunny Isles Beach, and several nearby communities, for over two decades.
It was clear that the couple had great ownership potential, but they had some on-paper challenges that blocked the path to traditional bank financing.
Loan Scenario
Here's what our borrowers brought to Ready Capital
New to ownership
No prior business ownership or industry experience, and short tenure for current owner.
Unsecured deal
An unsecured deal with much of the loan proceeds going toward goodwill.
Staff dependencies
A team of 4 studio employees and 6 delivery personnel whose livelihoods depended on a smooth transition.
Recent transactions
We consider the full range of value-add strategies and deliver structured finance solutions backed by experienced CRE lending professionals.
View all recent transactions ►
Nationwide lending at its best
Our team of professionals have deep industry expertise, offering brokers and sponsors commercial real estate know-how and confidence through all markets and credit cycles.