Ready Capital Closes in Excess of $1.5 Billion in Bridge Financing During Fourth Quarter of 2021, More Than $3.7 Billion for the Year

Rhea-AI Summary

Ready Capital Corporation (NYSE: RC) has successfully closed over $1.5 billion in bridge loans during the fourth quarter of 2021, marking a continued upward trend from the $3.7 billion achieved throughout the year. This achievement showcases the company's commitment to providing innovative loan structures tailored to client needs, according to David A. Cohen, Managing Director. The results reflect the company's strong performance and a strategy to expand its bridge lending services.

Positive

• Closed over $1.5 billion in bridge loans during Q4 2021.
• Total funding for 2021 reached approximately $3.7 billion.
• Continued growth in bridge lending indicates strong market demand.

Negative

• None.

NEW YORK, Feb. 2, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced the closing of more than 60 bridge loans totaling more than $1.5 billion for its National Bridge Lending Platform during the fourth quarter. The recent quarter's results build on the company's success during 2021, during which Ready Capital closed 180 bridge loans totaling approximately $3.7 billion in funding.

"We closed out 2021 with another quarter of exceptional production showcasing our pledge to produce unique loan structures to meet the demands of our diverse clients," said David A. Cohen, Managing Director and Co-Head of the National Bridge Lending platform. "We continue to push on the momentum of 2021 as we see further opportunities to expand our bridge lending to surpass what we achieved last year."

Ready Capital has posted the full list of transactions closed during the Fourth Quarter 2021.

About Ready Capital Corporation

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, Ready Capital employs over 500 lending professionals nationwide. The company is externally managed and advised by Waterfall Asset Management, LLC.

Contact:
Media Relations
Ready Capital Corporation
PR@readycapital.com

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SOURCE Ready Capital Corporation

FAQ

What were Ready Capital's Q4 2021 bridge loan results?

Ready Capital closed over $1.5 billion in bridge loans during Q4 2021.

How much did Ready Capital lend in 2021?

In 2021, Ready Capital closed approximately $3.7 billion in bridge loans.

Who is the Managing Director of Ready Capital?

David A. Cohen is the Managing Director and Co-Head of the National Bridge Lending platform.

What is the stock symbol for Ready Capital?

Ready Capital is traded under the stock symbol RC.