Fixed Rate Lending

OVERVIEW

Ready Capital offers fixed rate permanent loans to $25 million for multifamily, office, retail mixed use, self-storage, industrial and select other property types. As a non-bank capital source, we bring speed to the commercial lending process and help borrowers capitalize on more opportunities.

Ready Capital is one of the few non-bank commercial mortgage lenders providing financing nationwide. We are driven by our vision to provide customers with an unparalleled experience in small-balance commercial real estate financing. We leverage our team’s expertise to deliver flexible commercial lending solutions, quick closings and exceptional customer service.

Check out our most recent transactions & client testimonials:

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$1,050,000
Purchase
Fixed rate
Retail
10 Year Term
Conyers, GA
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$3,322,500
Rate/Term Refinance
Fixed rate
Multifamily
10 Year Term
Lilburn, GA

“The way you solved challenges was a breath of fresh air. I have not seen a lender in six years that showed the willingness to explore all of the options available…this was the best performance we have had with a lender in a long, long time. Thanks again.”

- Warren
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$5,200,000
Cash-Out Refinance
Fixed rate
Office
10 Year Term
Glendale , CA
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$4,500,000
Cash-Out Refinance
Fixed rate
Retail
5 Year Term
Fairfax Station, VA
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$5,587,500
purchase
Fixed rate
Retail
10 Year Term
Tempe, AZ
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$3,400,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Bronx, NY
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$1,391,000
Purchase
Fixed rate
Multifamily
10 Year Term
Various, GA
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$2,400,000
Cash-Out Refinance
Fixed rate
Retail
10 Year Term
Riverdale, GA
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$2,625,000
Purchase
Fixed rate
Office
10 Year Term
Westerville, OH

“The Ready Capital team was responsive throughout the loan process and they performed to our expectation. Inquiries were handled promptly and professionally from beginning to end. We anticipate a long and mutually beneficial relationship with Ready Capital going forward.”

- Zaya
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$9,445,000
purchase
Fixed rate
Multifamily
5 Year Term
Midvale, UT
$1,387,500
purchase
Fixed rate
Mixed Use
10 Year Term
Chicago, IL
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$750,000
purchase
Fixed rate
Multifamily
10 Year Term
Lakewood, CO
$1,080,000
Cash-Out Refinance
Fixed rate
Multifamily
5 Year Term
Forest Park, GA
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$4,250,000
Cash-Out Refinance
Fixed rate
Office
10 Year Term
Glendale, CA
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$7,000,000
Cash-Out Refinance
Fixed rate
Self Storage
12 Year Term
Kent, WA
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$1,965,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Various, OH
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$4,500,000
Rate/Term Refinance
Fixed rate
Office
10 Year Term
Chesapeake, VA
$2,100,000
Cash-Out Refinance
Fixed rate
Mixed Use
5 Year Term
Los Angeles , CA
$1,750,000
Rate/Term Refinance
Fixed rate
Retail
10 Year Term
Coral Gables, FL
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$7,500,000
Purchase
Fixed rate
Multifamily
10 Year Term
Oklahoma City, OK
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$1,687,500
Rate/Term Refinance
Fixed rate
Retail
10 Year Term
Pflugerville, TX
$2,300,000
Cash-Out Refinance
Fixed rate
Retail
10 Year Term
Green Brook Twp, NJ
$3,925,000
Cash-Out Refinance
Fixed rate
Office
5 Year Term
Los Angeles, CA
$1,012,500
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Baltimore, MD
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$1,081,900
Purchase
Fixed rate
Retail
10 Year Term
Alpharetta, GA
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$1,350,000
Purchase
Fixed rate
Retail
10 Year Term
Clermont, FL
$2,452,500
Purchase
Fixed rate
Multifamily
10 Year Term
Springboro, OH
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$1,081,900
Purchase
Fixed rate
Retail
10 Year Term
Alpharetta, GA
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$1,260,000
Purchase
Fixed rate
Retail
10 Year Term
Grayson, GA
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$4,700,000
Cash-Out Refinance
Fixed rate
Multifamily
7 Year Term
Seattle, WA
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$10,000,000
Cash-Out Refinance
Fixed rate
Office
15 Year Term
Santa Monica, CA
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$3,200,000
Cash-Out Refinance
Fixed rate
Retail
10 Year Term
Santa Clarita, CA
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$3,080,000
Purchase
Fixed rate
Multifamily
3 Year Term
Fort Worth, TX
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$1,570,000
Purchase
Fixed rate
Multifamily
10 Year Term
Sellersburg, IN
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$3,500,000
Cash-Out Refinance
Fixed rate
Multifamily
5 Year Term
Seattle, WA
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$9,150,000
Rate/Term Refinance
Fixed rate
Mixed Use
10 Year Term
Surprise, AZ
CRITERIA

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

Fixed Rate
Property Types Primarily office, retail, multifamily, self-storage and industrial
Rates Competitive rates priced off of SWAPs
Loan Size $750,000 to $20,000,000 primarily
Loan Purpose Refinance, cash out & acquisition
Terms Loan terms for 2 years to 10 years
Can consider other terms on case-by-case basis
Leverage Up to 80% in select markets
Recourse Non-recourse with standard carveouts
Prepayment Flexible
Can offer yield maintenance, step-down and up to 20% UPB
Can be repaid on a rolling 12 month basis without prepayment penalty
Debt Service Coverage As low as 1.20x
Amortization Up to 30 year amortization
Interest only available
Origination Par
Ready Capital Corporation Announces Resignation of Chief Operating Officer, Carole Mortensen
07/27/2018

Ready Capital Corporation Announces Resignation of Chief Operating Officer, Carole Mortensen

Company Release – 2/12/2019 8:00 AM ET

NEW YORK, Feb. 12, 2019 /PRNewswire/ — Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) today announced that Carole Mortensen, Chief Operating Officer has resigned from the Company, effective February 11, 2019. Ms. Mortensen has resigned from her position to pursue other opportunities and has committed to ensure a seamless transition of her responsibilities. Ms. Mortensen’s primary responsibilities will be assumed by Chief Financial Officer Rick Herbst on an interim basis. The Company will be initiating a search process to identify candidates to succeed Ms. Mortensen as Chief Operating Officer.

“Carole has made significant contributions to Ready Capital, earning wide respect across the organization for her efforts to advance our strategy,” stated Ready Capital Chairman and Chief Executive Officer Thomas Capasse. “We thank Carole for her service and wish her well in her future endeavors.”

Ms. Mortensen was a Managing Director of Ready Capital’s external manager, Waterfall Asset Management, LLC, since 2011 before being appointed Chief Operating Officer in June 2017.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” as such term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on current expectations and beliefs of the Company and Owens Realty Mortgage, Inc. (NYSEAM:ORM) (“ORM”) 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; neither the Company nor ORM can give any assurance that its expectations will be attained.

Factors that could cause actual results to differ materially from expectations include, but are not limited to, the risk that the merger will not be consummated within the expected time period or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the inability to obtain stockholder approvals relating to the merger and issuance of shares in connection therewith or the failure to satisfy the other conditions to completion of the merger; fluctuations in the adjusted book value per share of the shares of both the Company and ORM; risks related to disruption of management’s attention from the ongoing business operations due to the proposed merger; the effect of the announcement of the proposed merger on the Company’s and ORM’s operating results and businesses generally; the outcome of any legal proceedings relating to the merger; changes in future loan acquisition and production; the ability to retain or hire key personnel; availability of suitable investment opportunities; changes in interest rates; changes in the yield curve; changes in prepayment rates; the availability and terms of financing; general economic conditions; market conditions; conditions in the market for small balance commercial loans and other investments; and other factors, including those set forth in the Risk Factors section of the Company’s Registration Statement on Form S-4 and other reports filed by the Company and ORM with the SEC, copies of which are available on the SEC’s website, www.sec.gov. Neither the Company nor ORM undertakes any obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

Additional Information and Where to Find It

This press release may be deemed to be solicitation material in respect of the proposed merger of the Company and ORM.  In connection with the proposed merger, the Company has filed a Registration Statement on Form S-4, which includes a preliminary joint proxy statement/prospectus. The Company’s stockholders and other interested persons are advised to read the preliminary joint proxy statement/prospectus and, when available, the amendments thereto and the definitive joint proxy statement/prospectus and documents incorporated by reference therein filed in connection with the proposed merger, as these materials will contain important information about the Company, ORM and the proposed merger. When available, the definitive joint proxy statement/prospectus and other relevant materials for the proposed merger will be mailed to stockholders of the Company as of the record date. Stockholders will also be able to obtain copies of the preliminary joint proxy statement/prospectus, the definitive joint proxy statement/prospectus and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC’s web site at www.sec.gov, or on the Company’s website at https://readycapital.com/ or by directing a request to the Company’s Investor Relations at InvestorRelations@readycapital.com or at (212) 257-4666.

Participants in Solicitation

The Company, its directors, executive officers and certain employees may be deemed to be participants in the solicitation of proxies in respect of the proposed merger. Information regarding the Company’s directors and executive officers is available in its proxy statement filed with the SEC. Additional information regarding these persons and their interests in the proposed merger is included in the joint proxy statement/prospectus relating to the proposed merger that has been filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

ORM and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of the Company in connection with the proposed merger. A list of the names of such directors and executive officers and information regarding their interests in the proposed merger are included in the joint proxy statement/prospectus for the proposed merger.

About Owens Realty Mortgage, Inc.

Owens Realty Mortgage, Inc., a Maryland corporation, is a specialty finance mortgage company organized to qualify as a real estate investment trust that focuses on the origination, investment, and management of commercial real estate mortgage loans. ORM provides customized, short-term acquisition and transition capital to small balance and middle-market investors that require speed and flexibility. ORM’s primary objective is to provide investors with attractive current income and long-term shareholder value. Owens Realty Mortgage, Inc. is headquartered in Walnut Creek, California, and is externally managed and advised by Owens Financial Group, Inc. 

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-sized 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 400 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed merger. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Contact

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

Cision View original content:http://www.prnewswire.com/news-releases/ready-capital-corporation-announces-resignation-of-chief-operating-officer-carole-mortensen-300793589.html

SOURCE Ready Capital Corporation

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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