News - 2008

Columbus, Ohio, March 26, 2008 — Red Mortgage Capital, Inc., one of the nation’s leading Fannie Mae DUS® lenders, and the mortgage banking arm of comprehensive capital provider RED CAPITAL GROUP, provided Fannie Mae DUS financing to refinance five existing assisted living communities in Indiana and Florida.

The properties, constructed between 1998 and 2000, consist of CrownPointe at Anderson, Indiana (56 units), CrownPointe at Greenfield, Indiana (53 units), CrownPointe at Lebanon, Indiana (53 units), CrownPointe at Sebring, Florida (66 units), and CrownPointe at Spring Hill, Florida (40 units). The cumulative properties contain a total of 270 assisted living units and can accommodate 298 beds.

RED has provided more than $40 million in permanent and short-term loans to the sponsor over the past three years. RED's range of financing options has provided excellent solutions for the team at CrownPointe Communities.

Larry New, President of CrownPointe Communities, stated, "I appreciate the professionalism and commitment shown by Red Capital and Fannie Mae as they processed our multi-facility transaction in a timely manner. I have enjoyed a good working relationship with Jim Sherman and Jason Smeck at Red Capital and look forward to future opportunities with them."

Jason D. Smeck, Vice President of Red Mortgage Capital, Inc., said, "RED is pleased to provide permanent financing via the Fannie Mae seniors housing program for the team at CrownPointe Communities. These properties are quality assets operated by a strong management team. The Fannie Mae program is a wonderful source of permanent financing for owners of senior housing, particularly in these times of market uncertainty."