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 and 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

PRODUCT OVERVIEW

  • $3MM – $25MM*
  • Flexible prepays including step-downs
  • Stabilized and near-stabilized properties
  • Custom structures
  • Major markets nationwide
  • Pricing starting in the 4%s
  • Acquisitions, refinance, recapitalization, cash out
  • 2 – 10 year terms (15 years on a case-by-case basis)
  • Up to 75% LTV
  • Minimum 1.25 DCR
  • Up to 30 year amortization for multi-family, 25 years for other asset types, IO on a case-by-case basis
  • Par to lender / YSP available
  • CMBS alternative
  • Non-recourse
  • Future funding, holdbacks and earn-outs
  • Light value add if cash flowing

*Lower and higher loan amounts considered on a case-by-case basis

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:
San Francisco multi-housing lease up financed for $104M
07/27/2018

SAN FRANCISCO, March 2, 2021 – JLL Capital Markets announced today that it arranged the $104 million refinance of City Gardens, a recently developed multi-housing property located in San Francisco, California.

JLL worked on behalf of the borrower, Panoramic Interests, to secure the three-year, floating-rate loan through Ready Capital.

City Gardens consists of 200 two-, four- and five-bedroom micro-units, boasting strategic, efficient design. The property totals 152,445 square feet and features fully furnished bedrooms and living areas, expansive windows with beautiful city views, 9’ ceilings and was sustainably built; including high-efficiency lighting and plumbing, laminated heat resistant glass and energy recovery ventilation.

Located at 333 12th St. in the Western Mission/SOMA neighborhood, City Gardens is positioned near many shopping and grocery options, including Costco and Trader Joe’s, and various dining, bars and cafes. Additionally, the property is nestled between two burgeoning areas, including Hayes Valley; a revitalized neighborhood filled with high-end boutiques and vibrant restaurants and watering holes; and the Design District; which features renowned designer and furnishing showrooms.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Charles Halladay and Managing Directors Alex Witt and Jordan Angel, Associate Jonah Aelyon and Analyst Lauren Mezzanotte.

Patrick Kennedy, CEO of Panoramic Interests, says, “Alex Witt, Jordan Angel and the JLL team did an amazing job in a challenging market. We were grateful to have them on our team.”

“Panoramic Interests has built an extraordinary high-density multi-housing building uniquely positioned to capture San Francisco’s renter demand,” says Angel. “The San Francisco JLL Capital Markets team feels fortunate to have been able to partner with the Panoramic Interests team to secure a refinance with Ready Capital, allowing for the lease up of City Gardens. This was a great loan closing with a best in class developer and lender.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.


About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Panoramic Interests

Panoramic Interests has been building high-density infill development projects in the Bay Area since 1990. Its work in downtown Berkeley and San Francisco includes 15 projects, adding more than a 1,000 new units of housing, and 100,000 square feet of commercial space.

From 1998-2004, Panoramic built seven new mixed-use apartment buildings in downtown Berkeley, becoming the largest private landlord of UC Berkeley students.  Equity Residential REIT purchased the portfolio in 2007, the largest real estate transaction in Berkeley’s history.

About Ready Capital

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. The company lends on multi-housing and commercial real estate, delivering value-add bridge loans and fixed rate financings for stabilized assets. Ready Capital is a non-bank lender that has originated over $7 billion in commercial real estate loans nationwide. Ready Capital is an approved Freddie Mac Small Balance Loan (“SBL”) lender, an SBA Preferred Lender and provides residential mortgage lending through its wholly-owned subsidiary, GMFS Inc.  Headquartered in New York, New York, the Company employs over 400 lending professionals nationwide. The Company is externally managed and advised by Waterfall Asset Management, LLC.

For more information: San Francisco multi-housing lease up financed for $104M (jll.com)

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

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