Ready Capital Closes $20.2M Acquisition Loan for San Antonio Apartments

by Taylor Williams

SAN ANTONIO — New York City-based Ready Capital has closed a $20.2 million loan for the acquisition, renovation and stabilization of an unnamed, 208-unit apartment complex in the Far West submarket of San Antonio. The nonrecourse, interest-only loan features a 36-month term, floating interest rate, two extension options and a facility to fund future capital improvements. The sponsor was not disclosed.

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