Red Stone Tax Exempt Funding Assumes Ready Capital Brand
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Details
News Market Reaction – RC
The recorded move for RC in the trading session of this news was -2.99%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
NEW YORK, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Ready Capital Corporation (NYSE: RC) (“Ready Capital”), a multi-strategy real estate finance company that originates, acquires, finances, and services small- to medium-sized balance commercial loans, today announced that Red Stone Tax Exempt Funding, which was acquired in 2021, has formally assumed the Ready Capital brand across all aspects of its business.
Following a highly successful 2022 in which origination volume surpassed
“The Red Stone business continues to perform extremely well and is highly complementary to our overall platform,” said Thomas Capasse, Chairman and Chief Executive Officer of Ready Capital. Capasse added, “The affordable housing sector continues to be a growth opportunity and this is the perfect time to fully align and continue to realize the synergies that we have achieved, all under the Ready Capital banner.”
“The rationale for the merger has been proven through the hard work and dedication of the Red Stone team in combination with Ready Capital’s deep experience in successfully executing mergers and acquisitions,” said John Sokolovic, Managing Director, Head of Ready Capital Affordable Multifamily Finance. “We will continue to grow our division and contribute to the overall Ready Capital business, which remains well diversified and positioned to find opportunities in this environment. We look forward to broadcasting our new brand at the Affordable Housing Finance Conference (AHF Live) in Chicago from November 13 -15, 2023.”
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-sized balance commercial loans. The Company specializes in loans backed by commercial real estate, including agency multifamily, investor, and bridge as well as U.S. Small Business Administration loans under its Section 7(a) program. Headquartered in New York, the Company employs over 600 professionals nationwide.
Contacts:
Ready Capital Investor Relations
212-257-4666
InvestorRelations@readycapital.com
Ready Capital Media Relations
PR@readycapital.com
