Ready Capital Closes in Excess of $1.9 Billion in Bridge Financing During First Quarter of 2022
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.
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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.
Details
News Market Reaction – RC
The recorded move for RC in the trading session of this news was +1.10%.
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NEW YORK, April 26, 2022 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) ("Ready Capital" or the "Company") today announced more than
"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
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