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
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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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$8,800,000
Purchase
Bridge
Multifamily
3 Year Term
Largo, FL
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$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%+
Fernando Mendez
New York, NY

Fernando’s main expertise is in managing relationships with brokers and borrowers, in order to source and structure new value-add bridge loans, as well as fixed rate loans. His market coverage includes Boston, Philadelphia, Pittsburgh, North Carolina, South Carolina, Tennessee, and parts of New York. Prior to joining Ready Capital, Fernando spent 3 years at RAIT Financial Trust, with roles in Underwriting, Asset Management, Acquisitions, and eventually as an Originator. Fernando graduated from Vanderbilt University, where he studied Economics.

Specialties:
  • Bridge
  • Fixed rate
See most recent transactions & client testimonials:
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$14,480,000
Rate/Term Refinance
Bridge
Mixed Use
3 Year Term
Seattle, WA
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$7,848,475
Rate/Term Refinance
Bridge
Office
3 Year Term
Chicago, IL
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$8,800,000
Purchase
Bridge
Multifamily
3 Year Term
Largo, FL
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$9,445,000
purchase
Fixed rate
Multifamily
5 Year Term
Midvale, UT
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$6,500,000
purchase
Bridge
Industrial
2 Year Term
Hollywood, FL
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$5,500,000
purchase
Bridge
Multifamily
3 Year Term
New York, NY
$4,115,959
purchase
Bridge
Multifamily
3 Year Term
Phoenix, AZ
$11,736,000
purchase
Bridge
Industrial
3 Year Term
Portland, TN
$5,815,000
purchase
Bridge
Industrial
2 Year Term
Baldwin Park, CA
$9,005,000
purchase
Bridge
Hospitality
3 Year Term
Daytona Beach, FL
$8,575,000
Rate/Term Refinance
Bridge
Industrial
3 Year Term
Fair Lawn, NJ
$2,403,700
purchase
Bridge
Multifamily
2 Year Term
San Francisco, CA
$4,805,000
Rate/Term Refinance
Bridge
Self Storage
3 Year Term
Garfield, NJ
$2,029,300
purchase
Bridge
Multifamily
2 Year Term
San Francisco, CA
$9,450,000
Rate/Term Refinance
Bridge
Office
3 Year Term
Newport Beach, CA
$16,725,000
purchase
Bridge
Office
3 Year Term
Del Mar, CA
$23,200,000
purchase
Bridge
Office
3 Year Term
Toluca Lake, CA
$9,405,000
purchase
Fixed rate
Self Storage
5 Year Term
Missouri City, TX
$9,900,000
purchase
Bridge
Hospitality
3 Year Term
Englewood, CO
$17,840,000
Rate/Term Refinance
Bridge
Multifamily
2 Year Term
Philadelphia, PA
$5,825,000
purchase
Bridge
Industrial
2 Year Term
Belleville, MI
$6,370,000
purchase
Bridge
Retail
3 Year Term
Miami, FL
$7,055,000
purchase
Bridge
Multifamily
3 Year Term
Los Angeles, CA
$6,846,000
purchase
Bridge
Industrial
4 Year Term
Dallas, TX
$7,842,000
purchase
Bridge
Hospitality
3 Year Term
Orlando, FL
$5,500,000
Cash-Out Refinance
Bridge
Mixed Use
2 Year Term
Miami Beach, FL
$7,510,000
purchase
Bridge
Office
3 Year Term
Portland, OR
NEWS
  • 2018
  • 2017
  • 2016
Ready Capital Announces Merger with Owens Realty Mortgage - 11/08/2018
READY CAPITAL ANNOUNCES MERGER WITH OWENS REALTY MORTGAGE   Approximately $200M of Additional Capital Raised to Support Targeted Growth in Small Balance Commercial Assets  Combined Company Will Enhance Shareholder Liquidity Transaction Expected to be Accretive to Earnings in 2019  Transaction Expect ...
Sutherland Asset Management Corporation Announces Name Change To Ready Capital Corporation - 10/01/2018
NEW YORK, Sept. 24, 2018 /PRNewswire/ -- Sutherland Asset Management Corporation (NYSE: SLD) announced that, effective 12:01 a.m. Eastern Time on September 26, 2018, it will change its name to "Ready Capital Corporation". "The Ready Capital brand represents part of our larger strategy to improve sha ...
ReadyCap Commercial Surpasses $3 Billion Funded Milestone - 08/14/2018
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 Ir ...
Ready Capital Structured Finance Closes Non-Recourse Loans for approximately $70 Million in Washi... - 07/31/2018
NEW YORK – July 31, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in Washington, Tennessee, North Carolina, Florida, New Jersey, Illinois, New York and California totaling approximately $70 millio ...
Ready Capital Structured Finance Closes Non-Recourse Loans for approximately $60 Million in Calif... - 05/24/2018
NEW YORK – May 24, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in California, Colorado, Virginia, North Carolina and Texas totaling approximately $60 million. The Toluca Lake, California loan is ...
Ready Capital Structured Finance Closes Non-Recourse Loans for over $45 Million in Pennsylvania,... - 04/30/2018
NEW YORK – April 30, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in Pennsylvania, Florida, California, Michigan and Texas totaling over $45 million. The Philadelphia, Pennsylvania loan is for th ...
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CAREERS

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