Ready Capital Corporation Adds Managing Directors to Drive Continued Growth

Rhea-AI Summary

Ready Capital Corporation (NYSE: RC) has announced the appointment of Richard Katzenstein and Alex Ovalle as Managing Directors within its senior leadership team. Katzenstein will focus on enhancing commercial real estate lending through strategic partnerships, while Ovalle will drive sales for the Structured Fixed Rate and CMBS platforms. Their addition comes as the company anticipates expansion following a pending merger with Mosaic, expected to close in Q1 2022. Both executives bring extensive experience in real estate finance, positioning Ready Capital for growth.

Positive

• Appointment of Richard Katzenstein and Alex Ovalle strengthens senior leadership.
• Katzenstein to enhance commercial real estate lending through partnerships.
• Ovalle will drive sales efforts in Structured Fixed Rate and CMBS platforms.
• Merger with Mosaic expected to facilitate expansion and growth.

Negative

• None.

NEW YORK, Dec. 6, 2021 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced the addition of Richard Katzenstein and Alex Ovalle as Managing Directors and members of the senior leadership team, both reporting to CEO Tom Capasse.  

Richard Katzenstein joins as Head of Strategic Partnerships charged with increasing commercial real estate lending volume through a variety of existing and newly formed strategic partner relationships and strengthening loan sourcing channels.

Alex Ovalle joins as National Sales Manager to drive momentum for the Structured Fixed Rate and CMBS platforms at Ready Capital, as well as lead the development of a construction product in collaboration with the Bridge team. He completes a three-pronged dedicated sales leadership team alongside Richard Katzenstein and David A. Cohen, who is a Managing Director and the Co-Head of the National Bridge Lending platform and who has been with the Company since 2015.  

"As we complete an exceptionally active year -- highlighted by our pending merger with Mosaic -- we are bracing for further expansion in 2022 and Richard and Alex will be instrumental in helping us achieve our growth goals," said Tom Capasse, CEO.   

Richard Katzenstein brings more than 30 years of real estate capital markets experience most recently as Senior Vice President and National Director of Mortgage Loan Production and Sales at Marcus & Millichap Capital Corporation. Prior roles also include leadership positions at Freddie Mac, Tannery Brook Partners/Cortview Capital, MMA Realty Capital, and MONY Life Insurance Company. He earned a B.S. degree in marketing management from State University of New York at Albany, and an M.B.A. in finance from Long Island University Graduate School of Business.

Alex Ovalle joins from Mosaic Real Estate Investors (MREI), where he was Head of Originations and a member of the Credit Committee. MREI is an opportunistic real estate structured finance firm that Ready Capital announced a definitive merger agreement with on November 4 with an expected close in Q1, 2022.

Alex began his career in commercial real estate finance in 1992 and has significant experience managing origination teams and underwriting across numerous property types. After beginning his career at LaSalle Partners, he has founded or managed origination teams at Nomura Securities, JPMorgan Chase, Royal Bank of Scotland, Jefferies Loancore and Silverpeak Real Estate Finance. He holds an AB in Economics from Harvard College.

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
Investor Relations
Ready Capital Corporation
212-257-4666
InvestorRelations@readycapital.com

Ready Capital Media Relations
PR@readycapital.com 

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SOURCE Ready Capital Corporation

FAQ

Who are the new Managing Directors at Ready Capital?

Ready Capital has appointed Richard Katzenstein and Alex Ovalle as Managing Directors.

What are the roles of the new Managing Directors at Ready Capital?

Richard Katzenstein will focus on strategic partnerships for commercial real estate lending, and Alex Ovalle will drive sales for the Structured Fixed Rate and CMBS platforms.

What is the significance of the merger with Mosaic for Ready Capital?

The merger with Mosaic is expected to close in Q1 2022 and facilitate further expansion and growth for Ready Capital.

When was the merger with Mosaic announced?

The merger with Mosaic was announced on November 4, 2021.

What experience do the new Managing Directors bring to Ready Capital?

Richard Katzenstein has over 30 years in real estate capital markets, and Alex Ovalle has extensive experience in commercial real estate finance and managing origination teams.