Columbus, Ohio, April 15, 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, recently provided a $7,640,000 Fannie Mae DUS Refinancing for a Tallahassee, Florida property.
Rolling Hills Apartments, containing a total of 152 market rate units, was constructed in two phases. Phase I, constructed in 1972, contains 134 one-, two- and three-bedroom units. Phase II, constructed in 2006, contains 18 three-bedroom town homes. Common amenities include a pool, fitness center, laundry rooms, pet walking area, picnic area and clubhouse. Unit amenities include spacious floor plans, washer/dryer hookup, fully equipped kitchens and large private patios or balconies.
Key principals, Steven M. Leoni and Peter S. Rosen, bring a combined 40 years of real estate experience, primarily in the Tallahassee area. Student Housing Solutions, LLC, was founded in 2003 by Mr. Leoni and is comprised of three operating entities: Student Housing Solutions, LLC, the development and acquisition arm, SHS Construction and SHS Management, LLC.
Steven M. Leoni, Key Principal of Student Housing Solutions, LLC, said, "This was our first transaction with Red Capital Group. We were impressed with Red’s ability to perform and do what it agreed to do."
Michael A. Tozzi, Vice President of Red Mortgage Capital, Inc., stated, "It was a pleasure to have assisted Student Housing Solutions in refinancing the existing loan with a Fannie Mae DUS Loan. We look forward to working with Student Housing Solutions in the future." |
