IRVING, Texas, Aug. 14, 2018 (GLOBE NEWSWIRE) -- 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 Irving, TX, ReadyCap is a subsidiary of Sutherland Asset Management Corporation (NYSE: SLD).
ReadyCap originated its first loan in 2013 and as of its fifth full year of lending operations, has closed and signed-up approximately 1,000 loans totaling over $3.25 billion. The non-bank lender remains steadfast to its funding strategies and expansion of loan product offerings. Today, ReadyCap’s primary commercial real estate lending products include Fixed Rate loans up to $25 million, Freddie Mac SBL loans up to $7.5 million and Bridge loans up to $50 million, with the ability to execute larger loans on portfolios across its diverse product lines.
“ReadyCap continues to excel at combining its creativity, loan structuring flexibility and array of products spanning bridge to stabilized lending, in developing customized lending solutions for our clients’ varied real estate investment plans,” said Thomas Capasse, Sutherland’s Chief Executive Officer.
Anuj Gupta, President of ReadyCap, recognized his team in July for contributing to the success of ReadyCap.
“ReadyCap embodies a close-knit national team of employees who are passionate about the culture of the company, maintaining superior market relationships and working creatively, collaboratively and affirmatively to deliver for our clients.”
For more information regarding ReadyCap and this $3 billion funded milestone, contact Mara Rothbart at mara.rothbart@readycapcommercial.com.
About ReadyCap Commercial, LLC
ReadyCap Commercial (www.readycapcommercial.com), headquartered in Irving, Texas, is a non-bank, portfolio lender offering financing for small-to-mid balance fixed rate, small agency multifamily and bridge loans nationwide across all property types. ReadyCap’s financing products for commercial real estate include fixed rate loans up to $25 million, small multifamily agency loans up to $7.5 million and bridge loans up to $50 million, with the ability to execute larger loans on portfolios across its diverse product lines. Founded in 2012, ReadyCap is an indirect subsidiary of Sutherland Partners, L.P., the general partner of which is Sutherland Asset Management Corporation ("Sutherland"). Sutherland, a REIT, is a publicly-traded real estate finance company that primarily acquires, originates, manages and finances commercial real estate loans (NYSE:SLD).
This press release contains statements that constitute "forward-looking statements," as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements; the Company can give no assurance that its expectations will be attained. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Media contact: Mara Rothbart
mara.rothbart@readycapcommercial.com