ReadyCap Funds $2.15 Million Retail Property in Suburban Maryland
04/13/2015
By Anonym

ReadyCap Commercial, LLC ( www.readycapcommercial.com ), a non-bank direct lender offering commercial real estate financing up to $10 million in major markets nationwide, has closed on a commercial real estate loan for $2,150,000 in Thurmont, MD, to refinance the existing retail center.   The subject property, Thurmont Plaza, is comprised of 33,000 square feet of shop space built in phases, starting in the 1970s, with a new CVS store built in 2006. The permanent loan is a cash-out refinance structured with a hold-back of funds for re-tenanting currently vacant space. ReadyCap Commercial closed the 45-percent loan-to-value financing with Gordon Schaaf in less than 45 days.
View this property and more recent closings on the Just Closed page at ReadyCapCommercial.com .
  ReadyCap’s commercial financing solutions are a good match for creditworthy borrowers seeking speed and innovative terms, including non-recourse loans, earn-outs, hold-backs, and cash out. The small-balance commercial real estate lender is also a strong fit for borrowers who do not meet current bank or lender guidelines for various reasons. As a direct, non-bank lender, ReadyCap offers more flexibility and speed than traditional lending sources, while focusing on real estate fundamentals and considering the total picture of the borrower and transaction.  To learn how ReadyCap is “Lending Differently” or discuss a loan scenario, visit www.readycapcommercial.com , or call 888-354-0822.
About ReadyCap Commercial LLC
ReadyCap Commercial ( www.readycapcommercial.com ), headquartered in Orange County, CA, is a non-bank, direct portfolio lender offering financing for small-balance commercial real estate and multifamily properties nationwide, including Freddie Mac Small Balance Loans. ReadyCap and its affiliates have offices in Irvine, CA; Dallas, TX; Chicago, IL; Miami, FL; Denver, CO; Charlotte, NC; Washington DC and New York City, NY. Available financing ranges from $750,000 to $10 million. Founded in 2012, ReadyCap is a wholly owned indirect subsidiary of Sutherland Partners, L.P., the general partner of which is Sutherland Asset Management Corporation (“Sutherland”).  Sutherland, a REIT, is a real estate finance company that acquires, originates, manages and finances commercial real estate loans, and to a lesser extent, asset-backed securities where the underlying pool of assets consists primarily of commercial real estate loans and other real estate-related investments. For more information, visit http://www.readycapcommercial.com or call 888-354-0822.