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.
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 |
Interested in working with one of the fastest growing commercial mortgage REIT’s in the industry?
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