Los Angeles, CA – March 23, 2022 – Wedbush Securities, one of the nation’s leading financial services providers, recently served as sell-side financial advisor to the Calabasas, California based Mosaic Real Estate Credit Funds (“Mosaic”) on their recent mergers with New York based Ready Capital.
Mosaic is comprised of privately held, real estate structured finance opportunities funds with a focus on construction lending and Ready Capital is a multi-strategy real estate finance company that originates, acquires, finances and services small- to medium-sized balance commercial loans.
Burke Dempsey, EVP and Head of Investment Banking for Wedbush Securities facilitated the introduction of the two companies and his team advised Mosaic on the merger. Dempsey stated, “The Mosaic/Ready Capital mergers unite complementary commercial real estate skillsets and client relationships that will allow the proforma company to do more for its clients. This transaction also serves as an excellent example of consolidation by externally-managed REITs.”
Founder and Managing Partner of MREC Management, LLC, Ethan Penner adds, “I’ve worked in the real estate finance and banking world for forty years. It is rare when a banking firm truly understands the critical needs of both parties on a variety of levels, and from those insights designs a true win-win solution. These mergers are a tribute to the nuanced and thoughtful work of Wedbush Securities’ Burke Dempsey and his team.”
About Wedbush Securities
Wedbush Securities is the largest subsidiary of Wedbush Financial Services. Since its founding in 1955, Wedbush has been a leader in the financial services industry, providing our clients, both private and institutional, with a wide range of securities brokerage, wealth management, and investment banking services. Headquartered in Los Angeles, California with 100 registered offices and nearly 900 colleagues, the firm focuses on client service and financial safety, innovation, and the utilization of advanced technology.