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    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
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    $6,200,000

    Sacramento, CA

    Features

    Purchase, Fixed rate, Retail, 2 Year Term

    Description

    In July, Ready Capital closed the financing for the acquisition and stabilization of a 160-unit, Class B, multifamily property in the St. Augustine submarket of Tallahassee, FL. Upon acquisition, the sponsor will implement a capital improvement plan. Ready Capital closed the $10.11MM, non-recourse, interest only, floating rate loan which features a 24-month term, two extension options, and is inclusive of a facility to provide future funding for capital expenditures.

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    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:
    Lisa Cappelletti Executive Director CA Joel Covington Director NY John Drennan Director NY Dan Gaylord Vice President TX Russell Grigg Vice President FL Oliver Harris Vice President DC Kevin Leonard Vice President NC James Sotos Vice President IL John DePasquale Vice President NY
    Strategic Partnership Team:
    Michel Gilbert Executive Director TX Jeffrey Bottoms Vice President TX Brian Callom Vice President TX Craig Castaldi Vice President TX Eli Smith Vice President TX
    National Bridge Originations Team:
    Jordan Goforth Executive Director West Coast Mark Blaha Director Midwest David Kwitman Director East Coast Fernando Mendez Director East Coast Alex Gursky Vice President East Coast
    Back to News
    Ready Capital Announces Strong Q1 Results for Freddie Mac Business
    07/27/2018

    Commercial Lender Builds on Outstanding 2020 Results

    Ready Capital announced strong results for its Freddie Mac Small Balance Loan (SBL) business during the first quarter, extending into 2021 the increased volume of deals seen by the company in 2020. During the first quarter of 2021, Ready Capital closed 62 Freddie Mac SBL and small multifamily Bridge-to-Agency loans totaling $164 million in funding, with a pipeline of over $225 million. The recent quarter’s result builds on the company’s success during calendar year 2020, during which Ready Capital had closed 192 Freddie Mac SBL and small multifamily Bridge-to-Agency loans totaling $545 million in funding.

    “The market demand for the Freddie Mac SBL product continued to be elevated into the first quarter of 2021 with approximately $1.4 billion in permanent and small multifamily bridge financing requests, capping off a strong 2020 despite headwinds from the pandemic,” said Anuj Gupta, President of Commercial Real Estate Lending at Ready Capital. “Furthermore approximately 71% of our production to date meets the criteria for mission-driven, affordability housing, aligning us with the long-term goals of the Agencies.”

    In addition to announcing the volume of transactions, Ready Capital also highlighted the geographic diversification of the deals closed by its national lending team. During the first quarter of 2021, the company funded a significant volume of transactions in California, Illinois, Texas, and Colorado and closed additional deals in 10 more states.

     

     

     

     

    Premier Transactions

    Ready Capital closed $164 million during the first quarter of 2021 and $545 million during 2020 in Freddie Mac SBL and small multifamily Bridge-to-Agency loans. Individual deals ranged in size from $1 million to $7.5 million with terms ranging from 1 years to 20 years. Average LTV for the Freddie Mac SBL loans was approximately 65.

    Portfolio name Number of deals in portfolio Sum of balance (millions) Notes
    Portfolio 1 12 $40.0 Cash Out Refinance

    Partial IO, 7 Year term

    Southern California
    Portfolio 2 3 $15.5 Purchase

    Amortizing, 10 Year term

    Chicago and suburbs
    Portfolio 3 2 $4.4 Cash Out Refinance

    Partial IO, 10 Year term

    San Diego area
    Portfolio 4 2 $2.4 Purchase

    Amortizing, 10 Year term

    San Diego area
    Portfolio 5 2 $2.5 Purchase and Cash Out Refinance

    Amortizing, 10 Year term

    Greater Seattle

     

     

    Large Balance Deals Balance (millions) Notes
    Loan 1 $5.0 Purchase

    Amortizing, 10 Year term

    Arizona, very small market
    Loan 2 $4.2 Purchase

    Partial IO, 10 Year term

    Dallas area
    Loan 3 $3.5 Cash Out Refinance

    Amortizing 7 Year term

    Portland, Oregon region
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    Back to News
    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.

    View Open Positions
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