Ready Capital Structured Finance Arranges $11M Loan for Mixed-Use Building in Miami
MIAMI — Ready Capital Structured Finance has closed an $11 million loan for a 47,000-square-foot, Class B building located at 3415 N.E. 2nd Ave. in Miami’s Edgewater neighborhood. The property features street-level retail space, offices on the second and third floors and 104 parking spaces. Ready Capital closed the non-recourse, fixed-rate loan that features a 36-month term with one extension option and flexible pre-payment options. The loan includes facilities to provide future funding for capital improvements, leasing costs and interest and carry reserves.