ARC, the borrower, and investment management firm specializing in the acquisition and resolution of real estate assets, partnered with ReadyCap for the first time based on reputation, quality and speed of doing business.
“We have a great relationship [with ReadyCap] and knew the loan could get done quickly.” said, David Gordon, managing director. “I really enjoyed working with the people on their team who went out of their way during each step of the closing.”
The small-balance commercial loan supports the refinance of Central Plaza, a strip mall with over 26,000 leasable square footage at 80 percent occupancy. Tenants include national chains like Dunkin Donuts and local small business goods and services.
ReadyCap aims to create exceptional lending experiences earning long-term relationships with borrowers and intermediaries. When asked about doing business in the future, Gordon replied, “Definitely.”
ARC is headquartered in Miami, Florida with offices in New York.
For more information about ReadyCap Commercial, its small-balance loan products and recent closings visit: readycapcommercial.com
About Ready Capital Commercial
ReadyCap Commercial (www.readycapcommercial.com), headquartered in Irving, TX, is a non-bank, direct portfolio lender offering financing for small-balance commercial investment, multifamily, SBA and bridge loan programs nationwide. ReadyCap and its affiliates have offices in Irvine, CA; Dallas, TX; Chicago, IL; Miami, FL; Denver, CO; Charlotte, NC; Austin, TX; Atlanta, GA; Washington, D.C.; 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.