ReadyCap Funds $6.63 Million Industrial Commercial Real Estate Portfolio in Las Vegas

Irvine, CA (PRWEB) May 20, 2015 ReadyCap Commercial, LLC ( http://www.readycapcommercial.com ), a non-bank direct lender offering commercial real estate financing up to $10 million in major markets nationwide, has funded a commercial real estate loan portfolio for $6,630,000 in Las Vegas, NV.
S. Amos Smith of Walker & Dunlop, one of the largest providers of commercial real estate financing solutions, originated and placed the transaction for its client, MCA Realty, securing financing with ReadyCap Commercial.
“The whole ReadyCap team did a fantastic job. This transaction was a little cumbersome, with three properties and some changes in the collateral, but the team handled it all in stride. It was great working with ReadyCap again,” said Smith.
The portfolio includes three industrial properties in Las Vegas, with loan amounts of $1.23 million, $2.23 million, and $3.17 million. Financing is non-recourse to the sponsor.
ReadyCap funded the $6.63 million, 10-year conventional commercial funding for a cash-out refinance of the three properties, and provided a streamlined closing. View the properties and highlights, along with other recent transactions, 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 http://www.readycapcommercial.com , or call 888-354-0822.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States providing financing solutions to owners of multifamily and commercial properties. The Company’s Investment Sales platform represents owners in the sale of their apartment communities. Walker & Dunlop, listed in the S&P Small Cap 600 Index, has more than 450 professionals with an unyielding commitment to client satisfaction located in 23 offices nationwide.
About ReadyCap Commercial, LLC
ReadyCap Commercial ( http://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.