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
$900,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Greensboro, NC
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$3,325,000
Purchase
Fixed rate
Retail
10 Year Term
New Lenox, IL
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$3,400,000
Purchase
Fixed rate
Retail
10 Year Term
Lawrenceville, GA
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$2,065,000
Purchase
Fixed rate
Retail
10 Year Term
Kissimmee, FL
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$4,575,000
Purchase
Fixed rate
Retail
10 Year Term
Live Oak , TX
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$1,610,000
Rate/Term Refinance
Fixed rate
Retail
5 Year Term
Yuma, AZ
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$1,300,000
Purchase
Fixed rate
Retail
10 Year Term
Capitol Heights, MD
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$1,700,000
Cash-Out Refinance
Fixed rate
Industrial
10 Year Term
Pittsburg, CA
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$1,080,000
Cash-Out Refinance
Fixed rate
Mixed Use
10 Year Term
Clifton, NJ
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$1,400,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Paterson, NJ
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$15,000,000
Rate/Term Refinance
Fixed rate
Fixed Rate
10 Year Term
San Antonio, TX
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$2,650,000
Purchase
Fixed rate
Office
10 Year Term
Grand Prairie, TX
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$12,000,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Waxahachie, TX
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$2,000,000
Rate/Term Refinance
Fixed rate
Retail
5 Year Term
Evansville, IN
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$6,200,000
Purchase
Fixed rate
Retail
2 Year Term
Sacramento, CA
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
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 cre@readycapital.com.

National Loan Originations Team:
Strategic Partnership Team:
National Bridge Originations Team:
Ready Capital National Bridge Team Closes Over $100 Million in Four States
07/27/2018

NEW YORK, May 28, 2019 (GLOBE NEWSWIRE) — Ready Capital National Bridge Originations Team announces the closing of acquisition, mixed-use acquisition, renovation, refinance, redevelopment, stabilization and lease-up loans for approximately $110 Million in five states.

The Houston, TX loans for the acquisition, renovation, and stabilization of two Class A, multifamily properties located in the Spring Branch Submarket of Houston, TX. Upon acquisition, the Sponsor will focus on managing occupancy and increasing top-line revenue by implementing expense recovery and market standard fees at each property. Ready Capital closed the $7.5MM two nonrecourse, interest only, floating rate loans that feature 36-month terms, extension options, flexible pre-payment, and are inclusive of facilities to provide future funding for light capital expenditures.

The Los Angeles, CA loan for the acquisition, renovation, and stabilization of an approximately 40,000 SF (as-complete), eight-property portfolio located in the Frogtown Submarket of Los Angeles, CA. Upon acquisition, the Sponsor will convert each property to a creative office/retail space while renovating existing multifamily units. Ready Capital closed the $16.2 MM, nonrecourse, interest only, floating rate loan that features a 36-month term, two extension options, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, leasing costs, and interest and operating reserves.

The West Valley City, UT loan for the acquisition, renovation, and lease-up of a 90-unit, multifamily property located in West Valley City, UT (Salt Lake City MSA). The property is currently 100% occupied and composed of all two-bedroom units. The loan will be used to provide interior unit upgrades, exterior cosmetic improvements, and installation of community amenities. Ready Capital closed the $10.2 MM, nonrecourse, part fixed / part floating rate loan that features a 60-month term, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures and working capital reserves.

The Jacksonville, FL loan for the refinance, renovation, and lease up of an approximately 260,000 SF, Class B, grocery-anchored retail property located in the Northeast Jacksonville Submarket of Jacksonville, FL. This loan is a refinancing of an existing Ready Capital Bridge Loan, which closed in July 2016. Ready Capital closed the $26.0 MM, nonrecourse, part fixed / part floating rate loan that features a 60-month term flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, tenant leasing costs, and an earn-out upon achieving performance thresholds.

The Los Angeles, CA loan for the acquisition, renovation, and stabilization of a 16-unit multifamily property located in the East Hollywood Submarket of Los Angeles, CA. Upon acquisition, the Sponsor will improve common areas, upgrade unit interiors, and lease-up the property at market rental rates. Ready Capital closed the $4.7 MM, nonrecourse, interest only, floating rate loan that features a 36-month term with two extension options, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, and interest and operating reserves.

The Santa Monica, CA loan for the refinance, renovation, and stabilization of an approximately 9,000 SF (12,000 SF as-complete), vacant mixed-use property located in Santa Monica, CA. The Sponsor is in the process of converting the building into a high-end, multi-tenant retail development. Ready Capital closed the $13.9 MM, nonrecourse, interest only, floating rate loan that features a 36-month term, two extension options, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, leasing costs, and interest and operating reserves.

The Charlotte, NC loan for the refinance, redevelopment, and stabilization of an industrial flex property located in the North End/NoDa neighborhood of Charlotte, NC. Upon closing, the Property will be vacant, properly zoned, and fully permitted. The Sponsor plans to convert the approximately 180,000 SF industrial flex property into two buildings totaling 124,000 SF with additional parking, leased to creative office and retail tenants. Ready Capital closed the $23.0 MM, nonrecourse, floating rate loan that features a 48-month term, one extension option, 36-months of interest only, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, working capital, tenant leasing costs, and interest and operating reserves.

The Sacramento, CA loan for the acquisition, renovation, and stabilization of an approximately 65,000 SF, Class B, shopping center located in the Orangeville/Citrus Heights Submarket of Sacramento, CA. Upon acquisition, the Sponsor simultaneously executed a lease to fill the final vacant suite and achieve 100% occupancy. Ready Capital closed the $6.2 MM, nonrecourse, interest only, fixed rate loan that features a 24-month term, flexible prepay, and is inclusive of a facility to provide future funding for capital expenditures and leasing costs.

For more information, contact:
David A. Cohen, david.cohen@readycapital.com
Managing Director – National Bridge Originations

About Ready Capital:
Ready Capital (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans. Our National Bridge Originations team offers non-recourse financing on transitional, value-add and event-driven commercial and multifamily real estate opportunities. Ready Capital is a direct lender that provides comprehensive financing solutions to real estate owners, investors and small business owners, which generally range in original principal amounts between $2 – $35 million and portfolios up to $100 million.

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.

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