Press Release March 1, 2023

Ready Capital Corporation to Acquire Broadmark Realty Capital for $787 Million

Alston & Bird represented Ready Capital Corporation, a New York–based multistrategy real estate finance company, in its $787 million acquisition of Broadmark Realty Capital, a Washington-based company specializing in owning, developing, and managing real estate properties.

The transaction, which is expected to close in the second quarter pending shareholder approval, will form the fourth-largest commercial mortgage REIT. The deal marks Alston & Bird’s latest collaboration with Ready Capital; the firm advised on prior acquisitions in 2019, 2021, and 2022.

The Alston & Bird team representing Ready Capital is led by partners Michael Kessler and David E. Brown (Financial Services & Products); partner Julie Mediamolle, senior associate Brittany Raway, and associates Misbah Mohiuddin and Kezia Osunsade (Corporate Transactions & Securities); partners Sarah Ma and Shawna Tunnell, senior associates Stefanie Kavanagh and Joon Yoo (Federal & International Tax); partner Brett Coburn (Labor & Employment); and partner Blake MacKay and counsel Kerry Wenzel (Compensation, Benefits & ERISA Litigation).
Media Contact
Alex Wolfe
Communications Director

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