Clifford Chance

Clifford Chance advises Ready Capital Corporation on strategic acquisition of affordable housing finance company Red Stone

Leading international law firm Clifford Chance advised multi-strategy real estate finance company Ready Capital Corporation (NYSE: RC) on its acquisition of real estate finance and investment company Red Stone and its affiliates.

Ready Capital acquired the entities through which Red Stone conducts its affordable housing finance business in exchange for cash and stock as well as the assumption of certain Red Stone guarantees of secured indebtedness. Red Stone provides innovative financial products and services to the multifamily affordable housing industry. Its management team and all employees have joined Ready Capital.

This continues the firm's work on the leading transactions in the REIT market. Corporate Partner Kathleen Werner led a cross-practice team on the matter including senior counsel Jay Bernstein, counsel Matthew Warner and associates Katherine Chang and Rebecca Cho, with partner Mike Seaton and associate Tali Lee advising on Tax, partner Howard Adler and associate David Walsh on Employment Law, and counsel Victoria Manthas advising on the Real Estate aspects of the transaction.