Multifamily
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 and client testimonials:
Freddie SBL
Multifamily
7 Year Term
Fresno, CA
Freddie SBL
Multifamily
10 Year Term
Tempe, AZ
Freddie SBL
Multifamily
20 Year Term
Joplin, MO
Freddie SBL
Multifamily
20 Year Term
Joplin, MO
Freddie SBL
Multifamily
7 Year Term
Charlotte, NC
Freddie SBL
Multifamily
10 Year Term
Jersey City, NJ
Freddie SBL
Multifamily
10 Year Term
Clarksville, IN
Freddie SBL
Multifamily
20 Year Term
Bedford Hills, NY
Freddie SBL
Multifamily
10 Year Term
St. Louis, MO
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.”
Freddie SBL
Multifamily
7 Year Term
Austin, TX
Freddie SBL
Multifamily
7 Year Term
Tucson, AZ
Freddie SBL
Multifamily
20 Year Term
Woodland, CA
Freddie SBL
Multifamily
7 Year Term
Austin, TX
Freddie SBL
Multifamily
10 Year Term
Jupiter, FL
Freddie SBL
Multifamily
10 Year Term
Hamden, CT
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.”
Freddie SBL
Multifamily
10 Year Term
Lithonia, GA
Freddie SBL
Multifamily
7 Year Term
Lexington, NC
Freddie SBL
Multifamily
10 Year Term
Red Bank, TN
Year Term
,
“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.”
Freddie SBL
Multifamily
20 Year Term
Phoenix, AZ
Freddie SBL
Multifamily
20 Year Term
Bradley Beach, NJ
Freddie SBL
Multifamily
7 Year Term
Attleboro, MA
Freddie SBL
Multifamily
20 Year Term
Charlotte, NC
Freddie SBL
Multifamily
20 Year Term
Portland, OR
Freddie SBL
Multifamily
10 Year Term
Brookfield, IL
Freddie SBL
Multifamily
10 Year Term
Minneapolis, MN
Freddie SBL
Multifamily
10 Year Term
Bridgeport, CT
Fixed rate
Multifamily
10 Year Term
Sellersburg, IN
Freddie SBL
Multifamily
20 Year Term
Seattle, WA
Freddie SBL
Multifamily
10 Year Term
Henderson, NV
Freddie SBL
Mixed Use
10 Year Term
Fort Lauderdale, FL
Freddie SBL
Multifamily
20 Year Term
Downey, CA
Freddie SBL
Multifamily
20 Year Term
Monroe, WA
Freddie SBL
Multifamily
10 Year Term
Cheshire, CT
Freddie SBL
Multifamily
20 Year Term
Tualatin, OR
Freddie SBL
Multifamily
10 Year Term
Bridgeport , CT
Freddie SBL
Multifamily
10 Year Term
Pataskala, OH
Freddie SBL
Multifamily
10 Year Term
Portland, OR
Freddie SBL
Multifamily
10 Year Term
Hillside, IL
Freddie SBL
Multifamily
10 Year Term
Green Bay, WI
Freddie SBL
Multifamily
20 Year Term
Indianapolis, IN
Bridge
Multifamily
Year Term
San Antonio, TX
$2,765,000
San Antonio, TX
Features
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Austin, TX
$3,200,000
Austin, TX
Features
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Balcones Heights, TX
$3,450,000
Balcones Heights, TX
Features
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Glendale, AZ
$4,300,000
Glendale, AZ
Features
Bridge-to-Freddie - Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Olathe, KS
$5,765,000
Olathe, KS
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Shaker Heights, OH
$6,000,000
Shaker Heights, OH
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Jeffersontown, KY
$7,060,000
Jeffersontown, KY
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Jeffersontown, KY
$7,060,000
Jeffersontown, KY
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Jeffersontown, KY
$7,060,000
Jeffersontown, KY
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Jacksonville, FL
$8,100,000
Jacksonville, FL
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Los Angeles, CA
$8,360,000
Los Angeles, CA
Features
Refinance & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Dallas, TX
$8,515,000
Dallas, TX
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Culver City, CA
$8,900,000
Culver City, CA
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Fairfield, OH
$8,975,000
Fairfield, OH
Features
Acquisition & Renovation, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Hamilton, OH
$8,975,000
Hamilton, OH
Features
Acquisition & Renovation, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Austin, TX
$9,125,000
Austin, TX
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Brewster, MA
$9,190,000
Brewster, MA
Features
Refinance, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Dallas, TX
$9,450,000
Dallas, TX
Features
Recapitalization & Renovation, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Tallahassee, FL
$10,110,000
Tallahassee, FL
Features
Acquisition & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Des Plaines, IL
$10,680,000
Des Plaines, IL
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Tucson, AZ
$11,150,000
Tucson, AZ
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Phoenix, AZ
$11,730,000
Phoenix, AZ
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Fort Worth, TX
$11,740,000
Fort Worth, TX
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Los Angeles, CA
$11,760,000
Los Angeles, CA
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Seattle, WA
$14,970,000
Seattle, WA
Features
Acquisition & Renovation, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Edmonds, WA
$14,970,000
Edmonds, WA
Features
Acquisition & Renovation, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Birmingham, AL
$15,000,000
Birmingham, AL
Features
Acquisition, Conversion, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
San Antonio, TX
$15,675,000
San Antonio, TX
Features
Refinance, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Reno, NV
$15,820,000
Reno, NV
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Portsmouth, VA
$16,800,000
Portsmouth, VA
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Pittsburgh, PA
$17,440,000
Pittsburgh, PA
Features
Acquisition & Renovation, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Pittsburgh, PA
$17,440,000
Pittsburgh, PA
Features
Acquisition & Renovation, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Little Rock, AR
$17,930,000
Little Rock, AR
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Fort Worth, TX
$19,180,000
Fort Worth, TX
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Houston, TX
$21,330,000
Houston, TX
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Phoenix, AZ
$21,550,000
Phoenix, AZ
Features
Acquisition, Renovation, & Stabilization, Bridge, Multifamily, 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.
Bridge
Multifamily
Year Term
Dallas, TX
$23,390,000
Dallas, TX
Features
Acquisition & Stabilization, Bridge, Multifamily, 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.
PRODUCT OVERVIEW
- Stabilized properties
- High broker payouts
- Borrower rebates
- Loan Size: up to 80% loan-to-value
- Products: Fixed five, seven, 10 year, hybrid 20 year with fixed five, seven, 10 year
- Amortization: up to 30 years
- Prepayment: step down prepay and yield maintenance
- Short term fixed and floating bridge-to-agency loans
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.
Ready Capital Corporation Announces Securitization of $768 Million in Bridge Loans
CRE CLO Securitization is the Company’s Largest Since 2005 Inception
NEW YORK, April 1, 2021 — Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) announced the closing of a $629 million commercial mortgage collateralized loan obligation (“CRE CLO”) with the limited right to acquire all or part of $139 million in future funding participation interests. Moody’s Investors Service, Inc. (“Moody’s”) and Kroll Bond Rating Agency, LLC (“KBRA”) assigned a “Aaa(sf)” and “AAA(sf)” rating, respectively to the senior most certificates, with KBRA providing ratings to the remaining classes of the transaction. With the closing of this CRE CLO, Ready Capital Mortgage Financing 2021-FL5, LLC (“RCMF 2021-FL5”), the Company has issued five CRE CLOs backed by $1.8 billion of collateral UPB.
RCMF 2021-FL5 consists of 58 mortgage loans secured by 65 properties across the United States. Approximately 74% of the loan balance in the portfolio represents loans that were originated after the onset of the pandemic in March 2020, with the remaining balance attributable to loans originated prior to that. The portfolio includes mortgage loans primarily secured by multifamily and office properties across 16 states.
“The Ready Capital team has had great momentum at the start of this year closing over $650 million in bridge loans during the first quarter,” said Anuj Gupta, President of Commercial Real Estate Lending at Ready Capital. “We were fortunate to re-emerge quickly with strength out of the pandemic, bringing multi-product financing solutions to our clients”
The CRE CLO was arranged by a bank syndicate including J.P. Morgan as sole structuring agent and Deutsche Bank as co-lead manager with Piper Sandler as the co-manager.
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 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 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.
Contact
Investor Relations
Ready Capital Corporation
212-257-4666
InvestorRelations@readycapital.com
SOURCE Ready Capital Corporation
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