Ready Capital Closes in Excess of $1.9 Billion in Bridge Financing During First Quarter of 2022

Rhea-AI Summary

Ready Capital Corporation (NYSE: RC) announced the closure of over $1.9 billion in bridge loans during Q1 2022, reflecting a robust performance amid market challenges. This follows a successful 2021, where the company closed 180 loans totaling approximately $3.7 billion. The growth is attributed to enhanced relationships with clients in the small- and mid-market sectors, focusing on transitional financing solutions. The company aims to address the diverse needs of its clients through innovative strategies in commercial real estate lending.

Positive

• Closed over $1.9 billion in bridge loans in Q1 2022.
• Successful continuation of business from 2021, where $3.7 billion in loans were closed.
• Strengthened relationships with small- and mid-market clients.

Negative

• None.

NEW YORK, April 26, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced more than $1.9 billion in closed origination for its National Bridge Lending Platform. During the first quarter, Ready Capital closed more than 70 bridge loans totaling more than $1.9 billion. 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 started 2022 in a position of strength by following through on our commitment to the diverse needs of our clients," said David A. Cohen, Managing Director and Co-Head of the National Bridge Lending platform. "We have deepened our relationships with participants in the small- and mid-market space to find innovative solutions for transitional deals in both cashflowing and non-cashflowing projects, enabling us to serve more clients in this challenging environment."

Ready Capital has posted the full list of transactions closed during the First Quarter of 2022.

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 government-guaranteed 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

How much did Ready Capital close in bridge loans during Q1 2022?

Ready Capital closed over $1.9 billion in bridge loans during Q1 2022.

What was Ready Capital's bridge loan performance in 2021?

In 2021, Ready Capital closed 180 bridge loans totaling approximately $3.7 billion.

What strategies does Ready Capital use for bridge lending?

Ready Capital focuses on innovative solutions and deepened relationships with clients in the small- and mid-market sectors.

What does Ready Capital specialize in?

Ready Capital specializes in originating, acquiring, financing, and servicing small to medium balance commercial loans backed by real estate.