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    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:

    image
    $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
    image
    $8,800,000
    Purchase
    Bridge
    Multifamily
    3 Year Term
    Largo, FL
    image
    $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.

    Print
    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
    Print
    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
    Michel Gilbert
    Irving, TX

    Michel Gilbert has over 25 years of commercial lending experience for Life Company, Banks, Specialty Finance, CMBS, and Agency platforms. In his current role Michel leads the Strategic Partners team which is dedicated to Freddie Mac Small Balance multifamily loans. This team also originates small balance commercial fixed rate and structured bridge loans. Prior to joining Ready Capital, Michel held positions as Managing Director-Partner with NRF Capital, Regional Director Washington Mutual Bank, and Investment Director at Principal Global Investors. Michel is a graduate of Iowa State University with a BBA in Finance.

    Specialties:
    • Multifamily
    • Bridge
    • Fixed rate
    Back
    See most recent transactions & client testimonials:
    image
    $6,000,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Dallas, TX
    $947,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    10 Year Term
    Ridgewood , NY
    image
    $4,200,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Winnetka, CA
    image
    $3,200,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Van Nuys, CA
    image
    $3,175,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    North Hollywood, CA
    image
    $2,900,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Valley Village, CA
    image
    $2,450,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Los Angeles, CA
    image
    $2,325,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    North Hollywood, CA
    image
    $2,200,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Van Nuys, CA
    image
    $1,650,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    North Hollywood, CA
    image
    $1,500,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    North Hollywood, CA
    image
    $2,400,000
    Cash-Out Refinance
    Fixed rate
    Industrial
    10 Year Term
    Ontario, CA
    $1,400,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    10 Year Term
    Leavenworth, KS
    $4,830,000
    purchase
    Freddie SBL
    Multifamily
    20 Year Term
    Santa Ana, CA
    $2,260,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Los Angeles, CA
    $1,825,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Los Angeles, CA
    $2,470,000
    purchase
    Freddie SBL
    Multifamily
    20 Year Term
    Fullerton, CA
    $3,600,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    10 Year Term
    Roseville, MN
    $1,465,000
    purchase
    Freddie SBL
    Multifamily
    20 Year Term
    Tucson, AZ
    $1,131,000
    purchase
    Freddie SBL
    Multifamily
    10 Year Term
    Oklahoma City, OK
    $3,500,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Long Beach, CA
    $5,800,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Downey, CA
    $3,600,000
    Cash-Out Refinance
    Freddie SBL
    Multifamily
    20 Year Term
    Richland Hills, TX
    $1,100,000
    purchase
    Freddie SBL
    Multifamily
    20 Year Term
    San Pedro, CA
    $2,000,000
    purchase
    Freddie SBL
    Multifamily
    10 Year Term
    Arlington, TX
    NEWS
    • 2018
    • 2017
    • 2016
    Ready Capital Announces Merger with Owens Realty Mortgage - 11/08/2018
    READY CAPITAL ANNOUNCES MERGER WITH OWENS REALTY MORTGAGE   Approximately $200M of Additional Capital Raised to Support Targeted Growth in Small Balance Commercial Assets  Combined Company Will Enhance Shareholder Liquidity Transaction Expected to be Accretive to Earnings in 2019  Transaction Expect ...
    Sutherland Asset Management Corporation Announces Name Change To Ready Capital Corporation - 10/01/2018
    NEW YORK, Sept. 24, 2018 /PRNewswire/ -- Sutherland Asset Management Corporation (NYSE: SLD) announced that, effective 12:01 a.m. Eastern Time on September 26, 2018, it will change its name to "Ready Capital Corporation". "The Ready Capital brand represents part of our larger strategy to improve sha ...
    ReadyCap Commercial Surpasses $3 Billion Funded Milestone - 08/14/2018
    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 Ir ...
    Ready Capital Structured Finance Closes Non-Recourse Loans for approximately $70 Million in Washi... - 07/31/2018
    NEW YORK – July 31, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in Washington, Tennessee, North Carolina, Florida, New Jersey, Illinois, New York and California totaling approximately $70 millio ...
    Ready Capital Structured Finance Closes Non-Recourse Loans for approximately $60 Million in Calif... - 05/24/2018
    NEW YORK – May 24, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in California, Colorado, Virginia, North Carolina and Texas totaling approximately $60 million. The Toluca Lake, California loan is ...
    Ready Capital Structured Finance Closes Non-Recourse Loans for over $45 Million in Pennsylvania,... - 04/30/2018
    NEW YORK – April 30, 2018 – Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in Pennsylvania, Florida, California, Michigan and Texas totaling over $45 million. The Philadelphia, Pennsylvania loan is for th ...
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    CAREERS

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    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.

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