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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$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

“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

“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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$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

“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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$8,800,000
Purchase
Bridge
Multifamily
3 Year Term
Largo, FL
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$21,500,000
Rate/Term Finance
Fixed rate
Multifamily
3 Year Term
Peoria, AZ
Criteria

Ready Capital provides competitive programs to meet a wide range of borrower needs. Contact one of our loan professionals for more information.

Freddie SBL
Property Types Multifamily with 5+ units
Short term bridge to Freddie also available
Rates Call for current rates
Loan Size $1mm to $7.5mm
Loan Purpose Purchase, refinance, cash out
Terms 5, 7, 10 year fixed
20 year hybrid ARM with initial 5, 7, 10 year fixed
Leverage 80% top and standard markets
70% small and very small markets (75% for acquisitions)
Recourse Non-recourse with standard carve our provisions required
Prepayment Step down prepay
Yield maintenance
Debt Service Coverage 1.20x top market
1.25x standard market
1.30x small market
1.40x very small market
Amortization Partial term interest only
Full term interest only may be available
Up to 30 years amortization
Origination Par
Fixed Rate
Property Types Primarily office, retail, multifamily, self-storage and industrial
Rates Competitive rates priced off of SWAPs
Loan Size $750,000 to $20,000,000 primarily
Loan Purpose Refinance, cash out & acquisition
Terms Loan terms for 2 years to 10 years
Can consider other terms on case-by-case basis
Leverage Up to 80% in select markets
Recourse Non-recourse with standard carveouts
Prepayment Flexible
Can offer yield maintenance, step-down and up to 20% UPB
Can be repaid on a rolling 12 month basis without prepayment penalty
Debt Service Coverage As low as 1.20x
Amortization Up to 30 year amortization
Interest only available
Origination Par
ReadyCap Commercial Surpasses $3 Billion Funded Milestone
New York Times
07/27/2018

IRVING, TEXAS – August 14, 2018 – In July 2018, ReadyCap Commercial, LLC (ReadyCap), a leader in small to middle-market commercial real estate mortgage finance, announced it surpassed  $3 billion in funded  loans across its menu of products in just five years. Founded in 2012 and headquartered in Irving, TX, ReadyCap is a subsidiary of Sutherland Asset Management Corporation (NYSE: SLD). ReadyCap originated its first loan in 2013 and as of its fifth full year of lending operations, has closed and signed-up approximately 1,000 loans totaling over $3.25 billion. The non-bank lender remains steadfast to its funding strategies and expansion of loan product offerings. Today, ReadyCap’s primary commercial real estate lending products include, Fixed Rate loans up to $25 million, Freddie Mac SBL loans up to $7.5 million and Bridge loans up to $50 million, with the ability to execute larger loans on portfolios across its diverse product lines.

“ReadyCap continues to excel at combining its creativity, loan structuring flexibility and array of products spanning bridge to stabilized lending, in developing customized lending solutions for our clients’ varied real estate investment plans,” said Thomas Capasse, Sutherland’s Chief Executive Officer.

Anuj Gupta, President of ReadyCap, recognized his team in July for contributing to the success of ReadyCap.

“ReadyCap embodies a close-knit national team of employees who are passionate about the culture of the company, maintaining superior market relationships and working creatively, collaboratively and affirmatively to deliver for our clients.”

For more information regarding ReadyCap and this $3 billion funded milestone, contact Mara Rothbart at mara.rothbart@readycapcommercial.com.

About ReadyCap Commercial, LLC
ReadyCap Commercial (www.readycapcommercial.com), headquartered in Irving, Texas, is a non-bank, portfolio lender offering financing for small-to-mid balance fixed rate, small agency multifamily and bridge loans nationwide across all property types. ReadyCap’s financing products for commercial real estate include fixed rate loans up to $25 million, small multifamily agency loans up to $7.5 million and bridge loans up to $50 million, with the ability to execute larger loans on portfolios across its diverse product lines. Founded in 2012, ReadyCap is an indirect subsidiary of Sutherland Partners, L.P., the general partner of which is Sutherland Asset Management Corporation (“Sutherland”). Sutherland, a REIT, is a publicly-traded real estate finance company that primarily acquires, originates, manages and finances commercial real estate loans (NYSE: SLD).

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.

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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