Ready Capital announces merger transaction with MREC Management
NOVEMBER 4, 2021

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Ready Capital announces merger transaction with MREC Management

by Released

Ready Capital Corp., a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans, has entered into a definitive merger agreement pursuant to which Ready Capital has agreed to acquire a series of privately held, real estate–structured finance opportunities funds, with a focus on construction lending, managed by MREC Management. The expected value of the deal at closing is approximately $471 million.

Following the mergers, Ready Capital is expected to have a pro forma equity capital base in excess of $1.7 billion. The acquisition is expected to further expand Ready Capital's investment portfolio to include a diverse portfolio of construction assets with attractive portfolio yields resulting in expected earnings accretion and a reduced leverage profile.

Under the terms of the merger agreement, Ready Capital will acquire all of the outstanding equity interests in Mosaic Real Estate C

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