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Ready Capital Adds Red Stone Platform to Its Business

Ready Capital Corporation has acquired Red Stone and its affiliates for an undisclosed sum. Red Stone is a provides financial products and services to the multifamily affordable housing industry. 

The company’s management team, led by John Sokolovic, and all employees have joined Ready Capital. The acquisition will further diversify Ready Capital’s business and represents its commitment to affordable housing.

“Affordable housing finance presents a significant growth opportunity that will benefit our shareholders by expanding our presence in a sector with low correlation to our other businesses,” said Tom Capasse, chairman and CEO of Ready Capital. “Moreover, the team at Red Stone has enormous talent and we look forward to building on their success collaboratively in the future.” 

Ready Capital acquired the entities through which Red Stone conducts its affordable housing finance business in exchange for cash and stock along with the assumption of certain Red Stone guarantees of secured indebtedness.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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