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 $45 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 and client testimonials:

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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:
National Loan Originations Team:
Strategic Partnership Team:
Ready Capital Announces Acquisition of Red Stone
08/18/2021

Leading Real Estate Finance Company Expands Footprint in Multifamily Affordable Housing Sector

NEW YORK, August 2, 2021 — Ready Capital Corporation (NYSE: RC) (“Ready Capital”), a multi-strategy real estate finance company that originates, acquires, finances and services commercial loans, today announced its acquisition of Red Stone and its affiliates (“Red Stone”). Red Stone is a real estate finance and investment company that provides innovative financial products and services to the multifamily affordable housing industry. Red Stone’s management team, led by John Sokolovic, and all employees have joined Ready Capital. The acquisition will further diversify Ready Capital’s business and represents its commitment to affordable housing.

“Affordable housing finance presents a significant growth opportunity that will benefit our shareholders by expanding our presence in a sector with low correlation to our other businesses,” said Tom Capasse, Chairman and Chief Executive Officer of Ready Capital. “Moreover, the team at Red Stone has enormous talent and we look forward to building on their success collaboratively in the future.”

“We are very proud of our team’s achievements not only in providing exceptional financial products to our clients but also our team’s dedication and commitment toward the production of much needed affordable housing throughout the United States ” said John Sokolovic, Chairman and Co-Founder of Red Stone. “By joining the team at Ready Capital, we are confident that we can continue to grow and serve our clients, financial partners, and the affordable housing community while adding value for Ready Capital’s shareholders.”

Ready Capital acquired the entities through which Red Stone conducts its affordable housing finance business in exchange for cash and stock as well as the assumption of certain Red Stone guarantees of secured indebtedness.

Ready Capital received financial advice on the transaction from Houlihan Lokey and legal advice from Clifford Chance US LLP. Red Stone received financial advice on the transaction from Riparian Partners and legal advice from Jones Day.

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. For more information, visit www.readycapital.com.

About Red Stone
Red Stone is a privately-owned real estate finance and investment company that provides innovative financial products and services to the multifamily affordable housing industry throughout the United States. Red Stone focuses on providing acquisition, development period and permanent mortgage capital on properties that are financed utilizing tax-exempt and taxable bonds. Since its founding in 2002, Red Stone has provided in excess of $4.6 billion of mortgage debt and equity capital used to finance 63,032 apartment units in affordable and mixed income rental properties. For more information, visit www.redstoneco.com.

 

Contact
Investor Relations
Ready Capital Corporation
212-257-4666
InvestorRelations@readycapital.com
www.readycapital.com

SOURCE Ready Capital Corporation

FEATURED DEALS (Q3 2021)

Ready Capital National Bridge Lending Team highlights key real estate deals closed in the third quarter of 2021

 

Bridge Lending – Deal Highlights (Q3 2021) PDF File

CAREERS

Interested in working with one of the fastest growing commercial mortgage REIT’s in the industry?

Ready Capital is always looking to add experienced and driven professionals to expand and grow with our company. We are continually searching for experienced professionals within the industry by offering a work environment thriving on collaboration and a corporate culture of employees who are passionate and excited about what they do.

Find out what job positions are open in your area.

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