Ready Capital Provides $11M Acquisition Loan for Two-Building Industrial Portfolio Near Los Angeles

MONTEBELLO, CALIF. — Ready Capital has closed an $11 million loan to fund the acquisition of a two-building industrial property located in Montebello, approximately eight miles east of downtown Los Angeles.

The undisclosed borrower executed a single-tenant lease with a large multi-national industrial company prior to acquisition close.

Ready Capital closed the non-recourse, fixed-rate loan that features a 36-month term, 24-months of interest-only payments and no prepayment penalties.