Ready Capital Structured Finance Closes Non-Recourse Loans for Approximately $60 Million

Posted: 5/25/2018 Link:
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Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, announces the closing of non-recourse loans in California, Colorado, Virginia, North Carolina and Texas totaling approximately $60 million.

The Mebane, North Carolina loan is for the acquisition and stabilization of a 478-unit, Class B self storage property, centrally located between Burlington and Durham, North Carolina. The property is a newly delivered climate controlled facility that is in the lease up phase. Ready Capital Structured Finance closed the $4.1 million non-recourse floating rate loan that features a 24-month term, flexible pre-payment and is inclusive of a facility to fund interest shortfalls during the lease up.

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