Waterfall Asset-backed Ready Capital completed the acquisition of MREC Management for $471m.

Waterfall Asset-backed Ready Capital, a multi-strategy real estate finance company, completed the acquisition of MREC Management, an investment advisory services provider, for $471m. "We believe that this transaction is a compelling opportunity for Ready Capital to acquire a market leading commercial real estate investment platform focused on providing differentiated capital solutions across the middle market sector with an emphasis on construction lending. We are excited to integrate the Mosaic team and origination platform and we believe the diverse portfolio of construction assets with attractive portfolio yields will further differentiate Ready Capital's financing solutions for borrowers and investors," Thomas Capasse, Ready Capital Chairman and CEO.