Multifamily

OVERVIEW

Ready Capital is an approved Freddie Mac SBL Seller/Servicer, providing small balance loans from $1 million up to $7.5 million with both fixed- and hybrid- rate structures. We provide capital for acquisition, refinancing and cash-out requests, and take pride in delivering quick closings backed by flexibility and common-sense underwriting.

Check out our most recent transactions & client testimonials:

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$6,000,000
Purchase
Freddie SBL
Multifamily
7 Year Term
Fresno, CA
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$1,330,000
Rate/Term Refinance
Freddie SBL
Multifamily
10 Year Term
Tempe, AZ
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$5,530,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Joplin, MO
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$2,485,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Joplin, MO
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$2,600,000
Cash-Out Refinance
Freddie SBL
Multifamily
7 Year Term
Charlotte, NC
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$1,460,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Jersey City, NJ
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$1,208,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Clarksville, IN
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$1,000,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Bedford Hills, NY
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$1,648,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
St. Louis, MO
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$1,038,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Dallas, TX

“The level of teamwork between the different departments is really superb. It’s nice to work with a lender where the synergy between the people who are involved in the loan work towards a common goal and where the flow of information internally enhances the loan process, not hinders it.”

- Darryl
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$3,981,000
Purchase
Freddie SBL
Multifamily
7 Year Term
Austin, TX
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$2,300,000
Purchase
Freddie SBL
Multifamily
7 Year Term
Tucson, AZ
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$2,800,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Woodland, CA
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$3,331,000
Purchase
Freddie SBL
Multifamily
7 Year Term
Austin, TX
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$1,400,000
Purchase
Freddie SBL
Multifamily
10 Year Term
Jupiter, FL
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$1,237,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Hamden, CT
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$4,837,000
Purchase
Freddie SBL
Multifamily
7 Year Term
Killeen, TX

“Overall, I had a great experience working with everyone on the Ready Capital team and was very impressed. My loan officer was quick to respond to any questions and the closing team was very efficient, given a tight schedule. It was a smooth process and I would definitely choose to work with Ready Capital again in the future.”

- Susan
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$4,550,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Lithonia, GA
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$2,400,000
Purchase
Freddie SBL
Multifamily
7 Year Term
Lexington, NC
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$1,200,000
Purchase
Freddie SBL
Multifamily
10 Year Term
Red Bank, TN
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$880,000
Purchase
Freddie SBL
Multifamily
7 Year Term
Mooresville, NC

“It’s been a pleasure working with Ready Capital on this new opportunity, and I would like to express my highest appreciation and respect to everyone who worked diligently with us to get our deal to closure.”

- Yahav
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$1,423,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Phoenix, AZ
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$1,300,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Bradley Beach, NJ
$7,500,000
Cash-Out Refinance
Freddie SBL
Multifamily
7 Year Term
Attleboro, MA
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$2,400,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Charlotte, NC
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$1,700,000
Purchase
Freddie SBL
Multifamily
20 Year Term
Portland, OR
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$1,660,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Brookfield, IL
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$1,600,000
Purchase
Freddie SBL
Multifamily
10 Year Term
Minneapolis, MN
$1,180,000
Purchase
Freddie SBL
Multifamily
10 Year Term
Bridgeport, CT
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$1,570,000
Purchase
Fixed rate
Multifamily
10 Year Term
Sellersburg, IN
$3,500,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Seattle, WA
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$2,040,000
Rate/Term Refinance
Freddie SBL
Multifamily
10 Year Term
Henderson, NV
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$1,225,000
Cash-Out Refinance
Freddie SBL
Mixed Use
10 Year Term
Fort Lauderdale, FL
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$1,504,000
Rate/Term Refinance
Freddie SBL
Multifamily
20 Year Term
Downey, CA
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$1,176,000
Rate/Term Refinance
Freddie SBL
Multifamily
20 Year Term
Monroe, WA
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$1,580,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Cheshire, CT
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$1,500,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Tualatin, OR
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$1,100,000
Purchase
Freddie SBL
Multifamily
10 Year Term
Bridgeport , CT
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$1,800,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Pataskala, OH
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$1,981,000
Rate/Term Refinance
Freddie SBL
Multifamily
10 Year Term
Portland, OR
$3,420,000
purchase
Freddie SBL
Multifamily
10 Year Term
Hillside, IL
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$3,500,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Green Bay, WI
$2,500,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Indianapolis, IN
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$3,000,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Hollywood, FL
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$4,290,000
Purchase
Freddie SBL
Multifamily
10 Year Term
Bensenville, IL
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$1,680,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Oak Lawn, IL
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$2,585,000
Purchase
Bridge
Multifamily
2 Year Term
Decatur, GA
$900,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Greensboro, NC
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$1,800,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Newark, OH
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$4,050,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Denver, CO
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$1,800,000
Rate/Term Refinance
Freddie SBL
Multifamily
20 Year Term
Denver, CO
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$2,025,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Gastonia, NC
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$3,945,000
Purchase
Freddie SBL
Multifamily
20 Year Term
San Antonio, TX
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$2,470,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Philadelphia , PA
$1,350,000
Purchase
Bridge
Multifamily
Year Term
Minneapolis, MN
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$4,700,000
Purchase
Bridge
Multifamily
2 Year Term
Houston, TX
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$1,400,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Paterson, NJ
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$12,000,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Waxahachie, TX
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$1,730,000
Purchase
Bridge
Multifamily
1 Year Term
Bridgeport, CT
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$3,512,000
Purchase
Freddie SBL
Multifamily
10 Year Term
Rockford, IL
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$4,700,000
Purchase
Bridge
Multifamily
3 Year Term
Los Angeles, CA
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$7,500,000
Purchase
Bridge
Multifamily
3 Year Term
Houston, TX
$2,300,000
Purchase
Multifamily
Multifamily
7 Year Term
Aurora, CO
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$2,300,000
Purchase
Multifamily
Multifamily
2 Year Term
Atlanta, GA
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$2,800,000
Purchase
Freddie SBL
Multifamily
20 Year Term
Colorado Spings , CO
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$5,200,000
Purchase
Multifamily
Multifamily
1 Year Term
Portland, OR
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$1,000,000
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Baltimore, MD
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$10,200,000
Purchase
Bridge
Multifamily
5 Year Term
West Valley City , UT
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$3,400,000
Purchase
Bridge
Multifamily
3 Year Term
Houston, TX
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$6,100,000
Purchase
Fixed rate
Multifamily
3 Year Term
Champaign, IL
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$5,800,000
Purchase
Fixed rate
Multifamily
3 Year Term
Normal, IL
$1,012,500
Cash-Out Refinance
Fixed rate
Multifamily
10 Year Term
Baltimore, MD
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$38,900,000
Purchase
Bridge
Multifamily
3 Year Term
San Antonio, TX
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$25,800,000
Purchase
Bridge
Multifamily
3 Year Term
San Antonio , TX
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$5,928,000
Cash-Out Refinance
Freddie SBL
Multifamily
10 Year Term
Miami, FL
$2,452,500
Purchase
Fixed rate
Multifamily
10 Year Term
Springboro, OH
$3,337,000
Cash-Out Refinance
Freddie SBL
Multifamily
20 Year Term
Garland, TX
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$4,700,000
Cash-Out Refinance
Fixed rate
Multifamily
7 Year Term
Seattle, WA
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$1,550,000
Rate/Term Refinance
Freddie SBL
Multifamily
20 Year Term
Phoenix, AZ
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$3,525,000
3525000
Freddie SBL
Multifamily
20 Year Term
Beaumont, TX
Criteria

PRODUCT OVERVIEW

  • Stabilized properties
  • High broker payouts
  • Borrower rebates
  • Loan Size: Up to 80% loan-to-value
  • Products: Fixed 5, 7, 10 year, Hybrid 20 year with fixed 5, 7, 10 year
  • Amortization: Up to 30 years
  • Prepayment: Step down prepay and yield maintenance
  • Short term fixed and floating bridge-to-agency loans
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.

Strategic Partnership Team:
National Loan Originations Team:
National Bridge Originations Team:
Ready Capital National Bridge Team Closes Over 100 Million in Five States
07/27/2018
NEW YORK, Feb. 06, 2019 (GLOBE NEWSWIRE) — Ready Capital National Bridge Originations Team announces the closing of acquisition, renovation, redevelopment and lease-up loans for approximately $100 Million in five states.

The Charlotte, NC loan is to finance the acquisition, renovation, and lease-up of an approximately 30,000 SF, class B, retail center located in the Midtown/South End Submarket of Charlotte, NC.  The Property is located about 2 miles south of Bank of America Stadium, home of the Carolina Panthers football team. The Property is currently 35% occupied with below market rents. Ready Capital closed the $8.4 MM, nonrecourse, interest only, floating rate loan that features a 36-month term with two 12-month extension options, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, tenant leasing costs, and interest and operating reserves.

The Portland, OR loan is to finance the acquisition, renovation, and lease-up of a 93 unit, multifamily portfolio located in the Central Business District Submarket of Portland, OR. Upon acquisition, the sponsor plans to invest in unit and common area upgrades. In addition to the multifamily units, 3,000 SF of retail space will be leased on the street level of Gallery Park. Ready Capital closed the $14.5 MM, nonrecourse, interest only, floating rate loan that features a 36-month term with two 12-month extension options, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures and interest reserves.

The San Francisco, CA loan is for the refinance, redevelopment, and lease-up of an approximately 28,000 SF, 55 bed, co-living property located in the Civic Center Submarket of San Francisco, CA. The Sponsor’s redevelopment agenda includes a gut renovation of the entire building to convert it from a commercial property to a co-living, multifamily property, with a small retail space on the ground level. The redevelopment includes structural/seismic modifications, the addition of a floor, sublevel excavation, the addition of a roof deck, leveling floors, and the addition of an elevator. Ready Capital closed the $14.5 MM, nonrecourse, interest only, floating rate loan that features a 24-month term with one 12-month extension option, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures and interest and carry reserves.

The Tampa, FL loan is to finance the acquisition, repositioning, and lease-up of 77 units of a 96 unit, Class A, condominium property located in the Northeast Tampa Submarket of Tampa, FL. Upon acquisition, the Sponsor intends on taking majority ownership of the property and stabilizing the asset. Ready Capital closed the $8.9 MM, nonrecourse, interest only, floating rate loan that features a 24-month term, with a 12-month extension option, flexible pre-payment, and is inclusive of a facility to provide future funding for a unit buyout and interest reserve.

The second Charlotte, NC loan is financing for the acquisition, renovation, and lease-up of an approximately 164,000 SF, Class A, office portfolio located at 9140 and 9144 Arrowpoint Blvd. The ArrowPoint Portfolio is located in the Airport Submarket of Charlotte, NC. The loan will be used to enhance the exterior & interior of the properties, including common area improvements and general upgrades. Ready Capital closed the $12.0 MM, nonrecourse, floating rate loan that features a 36-month term, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures, tenant leasing costs, and an interest reserve.

The San Antonio, TX loan is for the acquisition, renovation, and stabilization an approximately 113,000 SF, Class B flex property located in the Northwest Submarket of San Antonio, TX. The property will undergo minor capital expenditures to improve its exterior condition. In addition, the Sponsor intends to engage an institutional leasing and property management team to increase rental rates to market levels as the in-place tenants roll. Ready Capital closed the nonrecourse, floating rate loan that features a 36-month term, flexible pre-payment, and is inclusive of a facility to provide future funding for capital expenditures and tenant leasing costs.

The Houston, TX loan is for the acquisition, renovation, and lease-up of a 438-unit, Class B, multifamily property located in the Alief Submarket of Houston, TX. Upon acquisition, the Sponsor will execute capital improvements to unit interiors, update property signage, and add reserved parking to the amenity package. Ready Capital closed the $28.3 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.

The Freeport, TX loan is for the acquisition, renovation, and lease-up of a 158-unit, multifamily property located in the South Highway 35 Submarket of Freeport, TX. The loan will enable to the Sponsor to renovate units and undertake common area improvements to upgrade the Property. Ready Capital closed the $7.9 MM, nonrecourse, interest only, floating rate loan that features a 24-month term, with a 12month extension option, flexible pre-payment, and is inclusive of a facility to provide future funding for a capital expenditure reserve.

The second Houston, TX loan is for the refinance and lease-up of a 42-unit, Class A, multifamily property located in the Neartown-Montrose Submarket of Houston, TX. The loan will refinance an existing construction loan and allow the Sponsor to lease-up the property. Ready Capital closed the $5.6 MM, nonrecourse, interest only, floating rate loan that features a 24-month term, with one extension option, flexible pre-payment, and is inclusive of a facility to provide future funding for operating and interest reserves.

The Miami, FL loan is for the acquisition, renovation, and lease-up of an approximately 8,000 SF, vacant, industrial warehouse in Miami, FL.  The property is located in the Wynwood Submarket of Miami. The loan will be used to convert the building into an urban retail plaza consisting of a rentable retail space, an open courtyard, and increase its rentable square footage with the installation of mezzanine levels. Ready Capital closed the $4.9 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, tenant leasing costs, and interest & carry reserves.

For more information, contact:  Managing Director – Chief Production Officer David A. Cohen, dcohen@readycapital.com

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.

Charlotte, NC
Ready Capital Charlotte, NC
Acquisition and renovation of an approximately 30,000 SF, class B retail center located in the Midtown/South End submarket of Charlotte, NC.
Portland, OR
Ready Capital Portland, OR
Acquisition, renovation, and lease-up of a 93 unit, multifamily portfolio located in the Central Business District Submarket of Portland, OR.
Portland, OR
Ready Capital Portland, OR
Acquisition, renovation, and lease-up of a 93 unit, multifamily portfolio located in the Central Business District Submarket of Portland, OR
San Francisco, CA
Ready Capital, San Francisco, CA
Refinance, redevelopment, and lease-up of an approximately 28,000 SF, 55 bed, Co-Living property located in the Civic Center Submarket of San Francisco, CA.
Tampa, FL
Ready Capital Tampa, FL
Acquisition, repositioning, and lease-up of a 96-unit, Class A, multifamily property located in the Northeast Tampa Submarket of Tampa, FL.
Charlotte, NC
Ready Capital Charlotte, NC
Acquisition, renovation, and lease-up of an approximately 164,000 SF, Class A, office portfolio located at Arrowpoint Blvd in the Airport Submarket of Charlotte, NC.
Charlotte, NC
Ready Capital Charlotte, NC
Acquisition, renovation, and lease-up of an approximately 164,000 SF, Class A, office portfolio located at Arrowpoint Blvd in the Airport Submarket of Charlotte, NC.
San Antonio, TX
Ready Capital San Antonio, TX
Acquisition, renovation, and stabilization an approximately 113,000 SF, Class B flex property located in the Northwest Submarket of San Antonio, TX.
Houston, TX
Ready Capital Houston, TX
Acquisition, renovation, and lease-up of a 438-unit, Class B, multifamily property located in the Alief Submarket of Houston, TX.
Freeport, TX
Ready Capital Freeport, TX
Acquisition, renovation, and lease-up of a 158-unit, multifamily property located in the South Highway 35 Submarket of Freeport, TX.
Houston, TX
Ready Capital Houston TX
Refinance and lease-up of a 42-unit, Class A, multifamily property located in the Neartown-Montrose Submarket of Houston, TX.
Miami, FL
Ready Capital Miami, FL
Acquisition, renovation, and lease-up of an approximately 8,000 SF, vacant, industrial warehouse in the Wynwood Submarket of Miami, FL.
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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