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Ready Capital Closes $34.4M Loan for Multifamily Property in Las Vegas

LAS VEGAS — Ready Capital has closed $34.4 million in financing for the acquisition, renovation and stabilization of a 152-unit apartment community in central Las Vegas. Upon acquisition, the undisclosed borrower will implement a capital improvement plan consisting of interior and exterior renovations, along with deferred maintenance.

Ready Capital closed the nonrecourse, interest-only, floating-rate loan, which features a 36-month term, two extension options, flexible prepayment and a facility to provide future funding for capital expenditures.

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

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