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LANSING, MICH. — Ready Capital has closed a $7.7 million loan for the acquisition, renovation and stabilization of a two-property multifamily portfolio in Lansing. The portfolio totals 262 garden-style units. The undisclosed borrower plans to implement a capital improvement program to renovate unit interiors and address deferred maintenance. The nonrecourse loan features a three-year term, floating rate and interest-only payments.