News - 2008
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080179
Fixed Rate Financing Provided for The Randall Group for a $10.6 Million Multifamily Refinance in Beaverton, Oregon
Columbus, Ohio, May 20, 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 $10,640,000 in Fannie Mae DUS fixed rate financing for Elmonica Court Apartments.
Constructed in 1997, Elmonica Court Apartments is comprised of 12 three-story apartment buildings containing a total of 144 one-, two- and three-bedroom units. Common amenities include a swimming pool and a garden with sitting areas. Unit amenities include full size washer/dryer, large closets and a patio/balcony with extra storage space.
The Randall Group, Inc., headquartered in Portland, Oregon, is one of the leading real estate investment and management companies on the West Coast, currently owning and managing over sixty apartment communities, small business industrial parks, and office buildings. CTL Management, Inc., a subsidiary of The Randall Group, will manage the subject property.
The Randall Group was created by Marcia and Robert Randall after they purchased their first property in 1960. The Randall’s built over 25,000 apartment units and other real estate properties. Their belief in process management and continual improvement created the strong management structure that remains the driving force behind the company’s operations today.
David L. Goodman, Chairman of Red Mortgage Capital, Inc. observed, "Lending to and getting to know folks like these is the best part of the business."
