Ready Capital Provides $11.5M Loan for Acquisition, Conversion of Warehouse in Miami

MIAMI — Ready Capital Structured Finance has provided an $11.5 million loan for the acquisition of an industrial warehouse in Miami. Located in the Wynwood Art District, the 35,000-square-foot property will be renovated and converted into a creative office building featuring ground floor retail space. The undisclosed borrower signed a lease with an office tenant that will occupy a portion of the building upon completion of the planned capital improvements. The 24-month loan features one extension option and is inclusive of a facility to provide for capital expenditures, leasing costs and interest and carry reserves.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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