Columbus, OH, April 2, 2008 – RED CAPITAL GROUP, one of the nation’s most comprehensive multifamily/seniors housing capital providers, announced 2007 production volume of more than $2,800,000,000. RED CAPITAL GROUP is comprised of three operating companies which provide comprehensive capital solutions to the multifamily, seniors, long term care and other real estate industries.
Red Mortgage Capital, Inc., RED CAPITAL GROUP’S mortgage banking entity, provided more than $1.9 billion of capital in 2007, including $1.25 billion of Fannie Mae DUS lending and $130 million in FHA insured mortgage loan financing. Red Mortgage Capital, Inc. is a top ten Fannie Mae DUS lender nationally and the nation’s 6th most active FHA/MAP lender. Finally, as a portfolio lender, Red Mortgage Capital, Inc. closed more than $260 million.
Red Capital Markets, Inc. (MEMBER FINRA/SIPC), RED CAPITAL GROUP’S investment banking and low income housing tax credit (LIHTC) equity syndication arm, also had an outstanding year, structuring and underwriting $155 million of tax-exempt and taxable bonds for 14 issues and structuring approximately $400 million in low income housing tax credit equity purchases, associated with 48 properties, which were syndicated through 3 new tax credit funds totaling $280 million.
Red Capital Advisors, LLC, RED CAPITAL GROUP’S merchant banking arm, structured 39 transactions totaling more than $260 million in balance sheet, mezzanine and bridge financings. Third party transactions funded through Red Real Estate Fund II, which it manages, totaled approximately $40 million in 2007.
In a statement from RED CAPITAL GROUP’s Co-Chairmen and CEO’s, Brian T. Kelleher and Scott M. Laufenberg, they said, "This firm has built something special through its teamwork, creativity, hard work and commitment to serving RED’s customers. We thank all of RED CAPITAL GROUP’s loyal customers and congratulate our colleagues at RED CAPITAL GROUP who truly did a fantastic job in a difficult 2007 market." |
