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SAN ANTONIO — New York City-based Ready Capital (NYC: RS) has originated a $25.8 million loan for the acquisition, renovation and stabilization of a 392-unit apartment community located in the Far North Central submarket of San Antonio. The nonrecourse loan carries a floating interest rate, 36-month term and flexible prepayment options. The capital improvement program will upgrade both the unit interiors and common areas. The sponsor was not disclosed.