2006-028

RED Provides $4 Million Fannie Mae Financing for California Multifamily Property

Columbus, OH , June 21, 2006 – Red Mortgage Capital, Inc., the mortgage banking unit of comprehensive multifamily capital provider RED CAPITAL GROUP, structured Fannie Mae DUS™ financing on an existing multifamily property in San Bernardino, California.

Windcrest Apartments, built in 1986, houses 124 one-, two-, and three bedroom units in 11 two-story buildings. Amenities include an outdoor pool, children’s play area, barbeque and picnic areas, gated entry, on-site laundry facilities, and private patio or balcony.

Red Mortgage Capital, Inc. provided a $4,000,000 fixed-rate Fannie Mae MBS/DUS loan which reduced the previous mortgage rate and extended the fully amortized term to 30 years .

Edward L. Frame, General Part ner of Windcrest Colton LP said, "Although this is my fourth transaction with Red Capital Group, Inc. and Rick Andrews, an originator at Red, this was my first Fannie Mae DUS loan. The people at Red have a way of making you feel as though you are their only client, and I was very pleased with the way they went out of their way to customize this loan to meet my needs."

* * *

DUS® is a registered trademark of Fannie Mae.