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Red Mortgage Capital, LLC Finances $6.79 Million with Fannie Mae for 120-Units of Student Housing in Lexington, KY(August 30, 2011)
Lexington, Ky. (PRWEB) August 30, 2011
Red Mortgage Capital, LLC, the mortgage banking arm of comprehensive capital provider RED CAPITAL GROUP, LLC and a leading Fannie Mae DUS® and FHA multifamily lender, is pleased to announce it recently underwrote and closed $6,790,000 of non-recourse financing for two student housing properties owned by Campus Rental Properties, LLC.
Located in central Lexington and adjacent to the University of Kentucky, the 96-unit University Village, Phase I and the 24-unit Woodland Village properties comprise the collateral behind the 10 year fixed rate mortgage. The blanket loan was underwritten by approved lender Red Mortgage Capital, LLC pursuant to Fannie Maes Dedicated Student Housing Program.
Ryan R. Duling, Vice President of Red Mortgage Capital, LLC commented, We were very pleased to once again work with this highly experienced, repeat client. Student housing is a sector we understand and like quite well, especially when located at institutions with the significance of the University of Kentucky.
Operating nationwide since its inception in 1991, RED CAPITAL GROUP, LLC is often recognized for its industry expertise, innovative and comprehensive structures, and consistently high lender rankings, such as having closed more FHA Multifamily & Healthcare loans during HUD FY-2010 than any other lender (and having closed more than $1.0 billion of FHA multifamily apartment loans in Federal Fiscal Year 2011 to date) and also having been the nations top Fannie Mae DUS lender for both multifamily and seniors. Red Mortgage Capital, LLCs new Freddie Mac Seller/Servicer for Seniors designation, announced April 2011, rounds out the agency platform, which already includes Fannie Mae DUS® and FHA MAP and FHA LEAN lending for multifamily, seniors housing and health care properties.
RED CAPITAL GROUP, LLC is committed to being the nations premier provider of capital across the spectrum of asset classes.
About RED CAPITAL GROUP, LLC
RED CAPITAL GROUP, through three operating companies, provides debt and equity capital to the multifamily, student and seniors housing, and health care industries. Red Mortgage Capital, LLC is a top Fannie Mae DUS® lender for both Multifamily and Seniors Housing, the nation's most active FHA Multifamily/Seniors lender (MAP- and LEAN-Approved), a national Freddie Mac Seniors Housing Seller/Servicer, an active financier of Critical Access, community and rural hospitals, and services approximately $14 billion of income property mortgage loans. Red Capital Markets, LLC (MEMBER FINRA/SIPC) is a leader in the trading and distribution of Fannie Mae and GNMA Project MBS and the underwriting of developer-driven multifamily housing bonds, and is remarketing agent for $1.5 billion in variable rate demand tax-exempt and taxable housing and health care bonds. Red Capital Partners, LLC delivers proprietary debt and equity to the multifamily and health care industries and provides asset management services for REDs proprietary debt and equity investments.
RED CAPITAL GROUP is headquartered in Columbus, Ohio, employs more than 200 and maintains nine offices nationwide. Since 1990, the bankers of RED CAPITAL GROUP have provided over $52 billion in taxable and tax-exempt first mortgage debt, mezzanine level capital and equity to multifamily, seniors housing, health care, and other real estate properties nationwide. RED CAPITAL GROUP is a subsidiary of ORIX USA Corporation.
About Our Parent Company ORIX USA Corporation
ORIX USA Corporation (http://www.orix.com) is the U.S. subsidiary of ORIX Corporation, a publicly-owned Tokyo-based international financial services company established in 1964. ORIX Corporation is listed on the Tokyo (8591) and New York (NYSE:IX) stock exchanges. ORIX USA Corporation is a diversified corporate lender, finance company, and advisory service provider with more than $6 billion in assets and an extensive portfolio of credit products and advisory services. ORIX USA is headquartered in Dallas, Texas and has approximately 1,400 employees worldwide.
Red Mortgage Capital, LLC is a licensed FHA MAP and FHA LEAN lender.
DUS® is a registered trademark of Fannie Mae.
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