Ready Capital Nets $105M In Loans For Properties In 4 States

Law360 (March 21, 2019, 7:39 PM EDT) -- Ready Capital said on Thursday that it has closed a slew of loans for acquisition and redevelopment purposes for properties in Texas, Florida, California and Illinois for a total of approximately $104.7 million.

New York-based Ready Capital Corp., a direct lender for real estate owners, investors and small businesses, said its national bridge originations team arranged the financing. The team arranged six loans in total, with the largest being a $38.9 million loan for a 504-unit multifamily home in Pasadena, Texas.

The $38.9 million Pasadena loan is for the acquisition, renovation and stabilization of a Class B multifamily property. The financing...

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