NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Marcus & Millichap (NYSE:MMI) today announced that its financing subsidiary, Marcus & Millichap Capital Corp. (MMCC), has expanded its network of lenders through a preferred correspondent agreement with ReadyCap Commercial LLC for the purpose of originating small balance, agency eligible multifamily loans on a nationwide basis.
“We are honored to provide financing options to the clients of Marcus & Millichap. Their extraordinary reach into the market, along with ReadyCap’s competitive pricing and superior service, makes this relationship very unique and advantageous to borrowers,” states Jim Going, chief executive officer of ReadyCap.
The overall objective is to leverage the national scale and market presence of Marcus & Millichap to deliver an efficient, reliable, competitive and well-established financing platform to Marcus & Millichap’s clients. “The coordinated services and responsiveness between the two companies will deliver the most competitive rates and most efficient process to borrowers, Marcus & Millichap agents and originators,” states Richard Katzenstein, senior vice president and national director of Marcus & Millichap Capital Corp.
“Over the past several years, ReadyCap has emerged as one of the most efficient loan processing platforms in the business particularly in the private capital segment, which is our core client base. With its parent company as the B-piece buyer, ReadyCap is also in a position to offer our clients very competitive pricing and terms in most situations,” says William E. Hughes, senior vice president and head of business for Marcus & Millichap Capital Corp. “With this new relationship added to MMCC’s vast array of lenders, we provide the widest spectrum of debt capital to our clients,” adds Hughes.
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE:MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. Through its network of national, regional and local lenders, MMCC provides capital markets products for a wide variety of investment properties, including apartments, shopping centers, office buildings, industrial facilities, single-tenant net-lease properties, seniors housing, hotels/motels, manufactured home communities and self-storage facilities. In 2015, MMCC closed more than 1,600 commercial real estate financing transactions. To learn more, please visit: www.mmCapCorp.com
About Ready Capital Commercial:
ReadyCap Commercial (www.readycapcommercial.com), headquartered in Irving, Texas, is a non-bank, direct portfolio lender offering financing for small-balance commercial investment, Freddie Mac SBL multifamily and bridge loan programs nationwide. Founded in 2012, ReadyCap is a subsidiary of Sutherland Asset Management Corporation, a REIT that originates, acquires, finances, services and manages SBC loans and Small Business Administration loans. The company originates SBC loans through its ReadyCap Lending subsidiaries. The company is externally managed and advised by Waterfall Asset Management, LLC. Additional information can be found on the company’s website at www.sutherlandam.com.
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