REBusinessOnline

Ready Capital Closes $12.5M Acquisition Loan for Industrial Building in Ramsey, New Jersey

RAMSEY, N.J. — New York City-based Ready Capital has closed a $12.5 million loan for the acquisition and renovation of an unnamed, 92,000-square-foot industrial building in the Northern New Jersey community of Ramsey. The nonrecourse, interest-only loan was structured with a floating interest rate, 36-month term, two extension options and a facility for funding future capital improvements. The undisclosed sponsor plans to implement a value-add program.




Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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