NEW YORK CITY—With a view toward meeting a wider range of the debt requirements of the middle market, Coldwell Banker Commercial Alliance said Thursday that it would provide clients with access to bridge and mezzanine lending through partner Ready Capital Structured Finance. RCS is a division of direct portfolio lender ReadyCap Commercial, a sister company to CBC Alliance within Sutherland Asset Management, a privately held REIT managed by Waterfall Asset Management. The new offering is intended to provide CBC Alliance clients the ability to finance commercial real estate transactions through the deals’ entire life cycle. “Most brokerages remain focused on originations for their largest borrowers,” says Adam Petriella, EVP and head of capital markets for CBC Alliance. The company, he says, “has long recognized that small to midsized companies are an underserved part of the market from both a brokerage as well as a lending standpoint. We are pleased to now offer access to bridge and mezzanine funding for our clients, an essential lending alternative for these sponsors.”
CBC Alliance launched its own capital markets division for the real estate investment community in 2014 through ReadyCap Commercial. The newly formed RCS division will now provide non-recourse, bridge and mezzanine CRE debt financing to CBC Alliance clients.
RCS will originate, manage and finance non-recourse floating and fixed rate loans of up to five years on transitional, value-add and event-driven commercial and multifamily real estate opportunities. Loan amounts will be up to $25 million, or larger on a case-by-case basis, to middle-market and institutional commercial real estate sponsors. RCS will offer short-term, interest-only loans with advances up to 80%, for cash flowing and non-cash flowing properties, with flexible prepayment schedules and customized structuring solutions.
This past spring, GlobeSt.com’s Kelsi Maree Borland sat down with Petriella and CBC Alliance Obie Walli to discuss the company’s growth and capital markets platform. Click here to view the video interview that resulted.
View the entire GlobeSt.com article here .