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 $35 million 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 & client testimonials:

$5,000,000
purchase
Bridge
Retail
2 Year Term
Los Angeles, CA
image
$5,500,000
purchase
Bridge
Multifamily
3 Year Term
New York, NY
image
$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
image
$8,800,000
Purchase
Bridge
Multifamily
3 Year Term
Largo, FL
image
$28,800,000
Rate/Term Finance
Bridge
Mixed Use
3 Year Term
New York, NY
CRITERIA

Ready Capital provides competitive programs to meet a wide range of borrower needs. Contact one of our loan professionals for more information.

Bridge Financing
Property Types Core: multifamily, office, retail, industrial, mixed-use
Non-core: self storage, student housing, hospitality, residential and commercial condo, and specialty use
Rates Call for current rates
Loan Size $2mm-$35mm
Loan Purpose Transitional, value-add and event driven
Terms Up to 5 years
Leverage Up to 80%
Structured solutions including higher leverage, mezzanine debt on case-by-case basis
Recourse Non-recourse except for bad-boy carveouts; further guarantees may be required on a case-by-case basis
Prepayment Freely pre-payable. Minimum interest may apply
Debt Service Coverage None. Partial or non-cash flowing
Amortization Interest Only: amortization structured on a case-by-case basis
Origination 1.00% origination fee / 0.50%+ exit fee / extension fees of 0.25%+
ReadyCap Commercial Surpasses $3 Billion Funded Milestone
New York Times
07/27/2018

IRVING, TEXAS – August 14, 2018 – In July 2018, ReadyCap Commercial, LLC (ReadyCap), a leader in small to middle-market commercial real estate mortgage finance, announced it surpassed  $3 billion in funded  loans across its menu of products in just five years. Founded in 2012 and headquartered in Irving, TX, ReadyCap is a subsidiary of Sutherland Asset Management Corporation (NYSE: SLD). ReadyCap originated its first loan in 2013 and as of its fifth full year of lending operations, has closed and signed-up approximately 1,000 loans totaling over $3.25 billion. The non-bank lender remains steadfast to its funding strategies and expansion of loan product offerings. Today, ReadyCap’s primary commercial real estate lending products include, Fixed Rate loans up to $25 million, Freddie Mac SBL loans up to $7.5 million and Bridge loans up to $50 million, with the ability to execute larger loans on portfolios across its diverse product lines.

“ReadyCap continues to excel at combining its creativity, loan structuring flexibility and array of products spanning bridge to stabilized lending, in developing customized lending solutions for our clients’ varied real estate investment plans,” said Thomas Capasse, Sutherland’s Chief Executive Officer.

Anuj Gupta, President of ReadyCap, recognized his team in July for contributing to the success of ReadyCap.

“ReadyCap embodies a close-knit national team of employees who are passionate about the culture of the company, maintaining superior market relationships and working creatively, collaboratively and affirmatively to deliver for our clients.”

For more information regarding ReadyCap and this $3 billion funded milestone, contact Mara Rothbart at mara.rothbart@readycapcommercial.com.

About ReadyCap Commercial, LLC
ReadyCap Commercial (www.readycapcommercial.com), headquartered in Irving, Texas, is a non-bank, portfolio lender offering financing for small-to-mid balance fixed rate, small agency multifamily and bridge loans nationwide across all property types. ReadyCap’s financing products for commercial real estate include fixed rate loans up to $25 million, small multifamily agency loans up to $7.5 million and bridge loans up to $50 million, with the ability to execute larger loans on portfolios across its diverse product lines. Founded in 2012, ReadyCap is an indirect subsidiary of Sutherland Partners, L.P., the general partner of which is Sutherland Asset Management Corporation (“Sutherland”). Sutherland, a REIT, is a publicly-traded real estate finance company that primarily acquires, originates, manages and finances commercial real estate loans (NYSE: SLD).

This press release contains statements that constitute “forward-looking statements,” as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on management’s current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

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.

SUBMIT A REQUEST

Connect with us and request a quote to see what product best fits your needs. A product representative will be in touch with you shortly.