Ready Capital originated a $127 million refinancing on behalf of Waterfall Asset Management’s funds for Chesterbrook Campus, a 1.1 million-square-foot, 14-building Class A office campus in the King of Prussia/Wayne submarket of suburban Philadelphia. The deal underscores Ready Capital’s multi-strategy real estate finance capabilities and its role as a key origination partner for large-scale commercial real estate transactions.

The loan structure includes initial disbursements as well as future funding tranches earmarked for lease-up initiatives and targeted capital improvements. These enhancements will support Rubenstein Partners’ ongoing business plan, which includes continued leasing efforts and upgrades to amenities such as The Circuit food hall, collaborative spaces, and coworking suites.

As the opportunity source, Ready Capital leveraged its originations platform to connect Waterfall Asset Management and Rubenstein Partners, facilitating a flexible financing package tailored to the asset’s value-add strategy. This transaction highlights Ready Capital’s external management relationship with Waterfall and its ability to drive deal flow in the specialty finance and CRE lending markets.