{"id":470149,"date":"2021-04-01T16:18:37","date_gmt":"2021-04-01T20:18:37","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=470149"},"modified":"2021-04-01T16:18:37","modified_gmt":"2021-04-01T20:18:37","slug":"ready-capital-corporation-announces-securitization-of-768-million-in-bridge-loans","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ready-capital-corporation-announces-securitization-of-768-million-in-bridge-loans\/","title":{"rendered":"Ready Capital Corporation Announces Securitization of $768 Million in Bridge Loans"},"content":{"rendered":"
\n

CRE CLO Securitization is the Company’s Largest Since 2005 Inception<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n NEW YORK<\/span>, April 1, 2021<\/span> \/PRNewswire\/ —\u00a0Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) announced the closing of a $629 million<\/span> commercial mortgage collateralized loan obligation (“CRE CLO”) with the limited right to acquire all or part of $139 million<\/span> in future funding participation interests. Moody’s Investors Service, Inc. (“Moody’s”) and Kroll Bond Rating Agency, LLC (“KBRA”) assigned a “Aaa(sf)” and “AAA(sf)” rating, respectively to the senior most certificates, with KBRA providing ratings to the remaining classes of the transaction.\u00a0 With the closing of this CRE CLO, Ready Capital Mortgage Financing 2021-FL5, LLC (“RCMF 2021-FL5”), the Company has issued five CRE CLOs backed by $1.8 billion<\/span> of collateral UPB.<\/p>\n

RCMF 2021-FL5 consists of 58 mortgage loans secured by 65 properties across the United States.\u00a0 Approximately 74% of the loan balance in the portfolio represents loans that were originated after the onset of the pandemic in March 2020<\/span>, with the remaining balance attributable to loans originated prior to that.\u00a0 The portfolio includes mortgage loans primarily secured by multifamily and office properties across 16 states. <\/p>\n

“The Ready Capital team has had great momentum at the start of this year closing over $650 million<\/span> in bridge loans during the first quarter,” said Anuj Gupta<\/span>, President of Commercial Real Estate Lending at Ready Capital. “We were fortunate to re-emerge quickly with strength out of the pandemic, bringing multi-product financing solutions to our clients.”\u00a0 <\/p>\n

The CRE CLO was arranged by a bank syndicate including J.P. Morgan as sole structuring agent and Deutsche Bank as co-lead manager with Piper Sandler<\/span> as the co-manager. <\/p>\n

\n About Ready Capital Corporation<\/b>\n <\/p>\n

Ready Capital Corporation (NYSE: RC) is a multi-strategy real estate finance company that originates, acquires, finances and services small to medium balance commercial loans. Ready Capital specializes in loans backed by commercial real estate, including agency multifamily, investor and bridge as well as SBA 7(a) business loans. Headquartered in New York, New York<\/span>, Ready Capital employs over 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.<\/p>\n

\n Contact
<\/b>Investor Relations
Ready Capital Corporation
212-257-4666
InvestorRelations@readycapital.com<\/a><\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/ready-capital-corporation-announces-securitization-of-768-million-in-bridge-loans-301260854.html<\/a><\/p>\n

SOURCE Ready Capital Corporation<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

CRE CLO Securitization is the Company’s Largest Since 2005 Inception PR Newswire NEW YORK, April 1, 2021 \/PRNewswire\/ —\u00a0Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) announced the closing of a $629 million commercial mortgage collateralized loan obligation (“CRE CLO”) with the limited right to acquire all or part of $139 million in future funding participation interests. Moody’s Investors Service, Inc. (“Moody’s”) and Kroll Bond Rating Agency, LLC (“KBRA”) assigned a “Aaa(sf)” and “AAA(sf)” rating, respectively to the senior most certificates, with KBRA providing ratings to the remaining classes of the transaction.\u00a0 With the closing of this CRE CLO, Ready Capital Mortgage Financing 2021-FL5, LLC (“RCMF 2021-FL5”), the Company has issued five CRE CLOs backed by $1.8 billion … <\/p>\n

Continue reading “Ready Capital Corporation Announces Securitization of $768 Million in Bridge Loans”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-470149","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nReady Capital Corporation Announces Securitization of $768 Million in Bridge Loans - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/ready-capital-corporation-announces-securitization-of-768-million-in-bridge-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ready Capital Corporation Announces Securitization of $768 Million in Bridge Loans - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"CRE CLO Securitization is the Company’s Largest Since 2005 Inception PR Newswire NEW YORK, April 1, 2021 \/PRNewswire\/ —\u00a0Ready Capital Corporation (NYSE: RC) (“Ready Capital” or the “Company”) announced the closing of a $629 million commercial mortgage collateralized loan obligation (“CRE CLO”) with the limited right to acquire all or part of $139 million in future funding participation interests. 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