NEW YORK, Aug. 7, 2017 /PRNewswire/ -- Sutherland Asset
Management Corporation ("Sutherland") (NYSE: SLD) announced today
that it has completed the securitization of $143.3 million of seasoned, performing mortgage
loans secured by commercial real estate, including, industrial,
retail, hospitality, multi-family and other property types.
The mortgage loans were acquired by Sutherland subsidiaries through
several portfolio acquisitions and have weighted average seasoning
of over twelve (12) years. The loans were originated or
acquired by four primary originators including GE Capital, CNL, PMC
and CIT, all of which originated business loans to small business
owners prior to the credit crisis.
"This transaction represents Sutherland's strong understanding
of small business lending and continued dedication to the sector,"
said Thomas Capasse, Sutherland's
Chief Executive Officer. "Small business occupies 30% to 50%
of all commercial space, so naturally, a transaction backed by
commercial real estate is core to our strategy. This transaction
speaks to the strength of our organization that possesses years of
business lending expertise combined with our ability in utilizing
efficient capital markets."
Sutherland's dedication extends to providing new loans to
qualified business owners through its ReadyCap Lending subsidiary,
which was formed in 2012, and holder of one of 14 Small Business
Lending Company ("SBLC") licenses issued by the Small Business
Administration ("SBA"). ReadyCap Lending, is among the top 50
originators, provides secured financing nationwide to small
business owners under the 7(a) loan program. For more
information, visit http://RCLending.com, or call 800-713-4984.
About Sutherland Asset Management Corporation
Sutherland Asset Management Corporation (NYSE: SLD) is a REIT
that originates, acquires, finances, services and manages small
balance commercial ("SBC") loans, U.S. Small Business
Administration loans under its Section 7(a) program, and
residential mortgage loans. The Company originates SBC loans
through its ReadyCap subsidiaries and originates residential
mortgage loans through its GMFS subsidiary. The Company is
externally managed and advised by Waterfall Asset Management,
LLC.
Contact
Investor Relations
Sutherland Asset Management
212-257-4666
SutherlandIR@waterfallam.com
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SOURCE Sutherland Asset Management Corporation