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    Bridge Financing

    OVERVIEW

    Ready Capital provides short-term, non-recourse bridge and mezzanine loans nationwide on transitional, value-add and event-driven commercial and multifamily real estate. We lend up to $75 million (larger for select assets and portfolios) for middle-market and institutional commercial real estate sponsors, and larger on a case-by-case basis.

    We provide floating and fixed rate terms to five years for multifamily, office, retail, industrial, mixed-use, self-storage, student housing, hospitality, residential and commercial condo, and specialty use properties. We consider the full range of value add strategies and deliver structured finance solutions backed by experienced bridge lending professionals.

    Check out our most recent transactions:

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    $18,280,000
    Acquisition & Renovation
    Bridge
    Fractured Condominium
    Year Term
    Melbourne, FL
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    $6,600,000
    Purchase
    Bridge
    Office
    3 Year Term
    Greenwood, IN
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    $22,600,000
    Refinance and Stabilization
    Bridge
    Mixed Use
    4 Year Term
    Charlotte, NC
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    $13,900,000
    Rate/Term Refinance
    Bridge
    Retail
    3 Year Term
    Santa Monica, CA
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    $4,700,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Los Angeles, CA
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    $6,200,000
    Purchase
    Fixed rate
    Retail
    2 Year Term
    Sacramento, CA
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    $2,600,000
    Rate/Term Refinance
    Bridge
    Retail
    5 Year Term
    Jacksonville, FL
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    $16,200,000
    Purchase
    Bridge
    Various Property Types - Portfolio
    3 Year Term
    Los Angeles, CA
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    $7,500,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Houston, TX
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    $11,900,000
    Purchase
    Fixed rate
    Student Housing
    3 Year Term
    Normal & Champaign, IL
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    $10,200,000
    Purchase
    Bridge
    Multifamily
    5 Year Term
    West Valley City , UT
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    $20,100,000
    Purchase
    Fixed rate
    Mixed Use
    7 Year Term
    Costa Mesa, CA
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    $7,950,000
    Purchase
    Bridge
    Retail
    3 Year Term
    Miami, FL
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    $25,800,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    San Antonio , TX
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    $38,900,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    San Antonio, TX
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    $7,900,000
    Purchase
    Bridge
    Retail
    3 Year Term
    Miami (Wynwood), FL
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    $28,300,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Houston , TX
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    $14,500,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Portland , OR
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    $7,860,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Freeport, TX
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    $5,590,000
    Rate/Term Refinance
    Bridge
    Multifamily
    2 Year Term
    Houston, TX
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    $4,930,000
    Purchase
    Bridge
    Retail
    3 Year Term
    Miami, FL
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    $11,960,000
    Purchase
    Bridge
    Office
    3 Year Term
    Charlotte, NC
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    $8,400,000
    Purchase
    Bridge
    Retail
    3 Year Term
    Charlotte, NC
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    $8,900,000
    Purchase
    Bridge
    Multifamily
    2 years Year Term
    Tampa, FL
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    $7,570,000
    Purchase
    Bridge
    Industrial
    3 Year Term
    Charlotte, NC
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    $33,325,000
    Rate/Term Refinance
    Bridge
    Office
    3 Year Term
    Chicago, IL
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    $8,240,000
    Rate/Term Refinance
    Bridge
    Mixed Use
    3 Year Term
    Los Angeles , CA
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    $12,760,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    San Antonio , TX
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    $16,360,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    San Antonio , TX
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    $25,070,000
    Purchase
    Bridge
    Mixed Use
    3 Year Term
    Denver, CO
    $5,000,000
    purchase
    Bridge
    Retail
    2 Year Term
    Los Angeles, CA
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    $5,500,000
    purchase
    Bridge
    Multifamily
    3 Year Term
    New York, NY
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    $7,848,475
    Rate/Term Refinance
    Bridge
    Office
    3 Year Term
    Chicago, IL
    $1,520,361
    Rate/Term Refinance
    Bridge
    Multifamily
    2 Year Term
    Philadelphia, PA
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    $2,765,000
    Bridge-to-Freddie - Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    San Antonio, TX
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    $3,200,000
    Bridge-to-Freddie - Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Austin, TX
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    $3,450,000
    Bridge-to-Freddie - Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Balcones Heights, TX
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    $4,300,000
    Bridge-to-Freddie - Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Glendale, AZ
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    $5,000,000
    Acquisition & Stabilization
    Bridge
    Industrial
    Year Term
    Garfield, NJ
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    $5,765,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Olathe, KS
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    $6,000,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Shaker Heights, OH
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    $6,070,000
    Acquisition & Renovation
    Bridge
    Industrial
    Year Term
    Avon, MA
    $6,320,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Industrial
    Year Term
    Philadelphia, PA
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    $6,560,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Industrial
    Year Term
    Greenville, SC
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    $7,060,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Jeffersontown, KY
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    $7,060,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Jeffersontown, KY
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    $7,060,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Jeffersontown, KY
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    $8,060,000
    Acquisition & Stabilization
    Bridge
    Industrial
    Year Term
    Miamisburg, OH
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    $8,100,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Jacksonville, FL
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    $8,180,000
    Acquisition & Renovation
    Bridge
    Industrial
    Year Term
    Jacksonville, FL
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    $8,360,000
    Refinance & Stabilization
    Bridge
    Multifamily
    Year Term
    Los Angeles, CA
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    $8,515,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Dallas, TX
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    $8,900,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Culver City, CA
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    $8,975,000
    Acquisition & Renovation
    Bridge
    Multifamily
    Year Term
    Fairfield, OH
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    $8,975,000
    Acquisition & Renovation
    Bridge
    Multifamily
    Year Term
    Hamilton, OH
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    $9,125,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Austin, TX
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    $9,190,000
    Refinance, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Brewster, MA
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    $9,450,000
    Recapitalization & Renovation
    Bridge
    Multifamily
    Year Term
    Dallas, TX
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    $10,080,000
    Acquisition & Renovation
    Bridge
    Industrial
    Year Term
    Fort Worth, TX
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    $10,110,000
    Acquisition & Stabilization
    Bridge
    Multifamily
    Year Term
    Tallahassee, FL
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    $10,680,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Des Plaines, IL
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    $11,150,000
    Acquisition, Renovation, & Stabilization
    Bridge
    Multifamily
    Year Term
    Tucson, AZ
    CRITERIA

    PRODUCT OVERVIEW

    • Transitional, value-add and event-driven real estate opportunities
    • Highly structured loan solutions
    • Financing customized to borrower business plan
    • Loan size: up to 80% of project cost, 85% senior stretch deal specific
    • Term: floating rate up to five years including extensions
    • Prepayment: minimum interest
    • Future Funding: Capex, TI/LC, earnouts, interest and operating reserves
    • Fixed and fixed/floating hybrid loan solutions
    CONTACT

    Contact a Production Officer or a member of our production team for more information for your area or market. All of our Production Officers have the ability to lend nationwide. If you need further information, please contact bridgecre@readycapital.com.

    National Bridge Originations Team:
    Jordan Goforth Executive Director West Coast Mark Blaha Director Midwest David Kwitman Director East Coast Fernando Mendez Director East Coast Alex Gursky Vice President East Coast
    National Loan Originations Team:
    Lisa Cappelletti Executive Director CA Joel Covington Director NY John Drennan Director NY Dan Gaylord Director TX Russell Grigg Director FL Oliver Harris Vice President DC Kevin Leonard Vice President NC John DePasquale Vice President NY
    Strategic Partnership Team:
    Michel Gilbert Executive Director TX Jeffrey Bottoms Vice President TX Brian Callom Vice President TX Craig Castaldi Vice President TX Eli Smith Vice President TX
    Back to News
    Ready Capital Corporation Announces Securitization of $768 Million in Bridge Loans
    08/18/2021

     Ready Capital Corporation Announces Securitization of $768 Million in Bridge Loans

    CRE CLO Securitization is the Company’s Largest Since 2005 Inception

     

    NEW YORK, April 1, 2021 — Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) announced the closing of a $629 million commercial mortgage collateralized loan obligation (“CRE CLO”) with the limited right to acquire all or part of $139 million in future funding participation interests. Moody’s Investors Service, Inc. (“Moody’s”) and Kroll Bond Rating Agency, LLC (“KBRA”) assigned a “Aaa(sf)” and “AAA(sf)” rating, respectively to the senior most certificates, with KBRA providing ratings to the remaining classes of the transaction.  With the closing of this CRE CLO, Ready Capital Mortgage Financing 2021-FL5, LLC (“RCMF 2021-FL5”), the Company has issued five CRE CLOs backed by $1.8 billion of collateral UPB.

    RCMF 2021-FL5 consists of 58 mortgage loans secured by 65 properties across the United States.  Approximately 74% of the loan balance in the portfolio represents loans that were originated after the onset of the pandemic in March 2020, with the remaining balance attributable to loans originated prior to that.  The portfolio includes mortgage loans primarily secured by multifamily and office properties across 16 states.

    “The Ready Capital team has had great momentum at the start of this year closing over $650 million in bridge loans during the first quarter,” said Anuj Gupta, President of Commercial Real Estate Lending at Ready Capital. “We were fortunate to re-emerge quickly with strength out of the pandemic, bringing multi-product financing solutions to our clients”

    The CRE CLO was arranged by a bank syndicate including J.P. Morgan as sole structuring agent and Deutsche Bank as co-lead manager with Piper Sandler as the co-manager.

     

    About Ready Capital Corporation

    Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York, Ready Capital employs over 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.

     

    Contact

    Investor Relations

    Ready Capital Corporation

    212-257-4666

    InvestorRelations@readycapital.com

     

    SOURCE Ready Capital Corporation

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    Back to News
    FEATURED DEALS (Q1 2022)

    Ready Capital National Bridge Lending Team highlights key real estate deals closed in the 1st quarter of 2022.

     

    Ready Capital Bridge Lending:
    Featured Deal Highlights (Q1 2022)

    Download the latest Ready Capital National Bridge Lending Team deal summary sheet below:


    High-Resolution PDF (15mb)

     

    Mobile-Friendly PDF
    Mobile-Ready PDF (4mb)

     

    Bridge Q1 2022 Deals

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