News - 2009
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January 30, 2009
080660
Red Provides $38.5 Million Fannie Mae DUS® Financing for Five-Property Pool in Indiana and Ohio
Sponsored by Indianapolis-Based The Sexton Companies
Red Mortgage Capital, Inc., one of the nation’s leading Fannie Mae DUS® lenders and the mortgage banking entity of comprehensive capital provider RED CAPITAL GROUP, recently provided $38,513,900 in Fannie Mae DUS cross-collateralized financing for a five-property pool carrying a fixed rate, 10-year term, amortized over 30-years.
Constructed between 1985 and 1998, the properties include Carlyle Court of Indianapolis, Indiana (254 units), Hillside Court of Centerville, Ohio (136 units), Stanford Court of Speedway, Indiana (202 units), Waterford Court of Lafayette, Indiana (310 units) and Windsor Court of Indianapolis, Indiana (342 units).
The Sexton Companies is an Indianapolis-based, multifamily housing developer which currently owns and manages a portfolio of nineteen properties of over 5,000 units located in Indiana, Ohio and Louisiana. The Sexton Companies began building communities in 1962 and has constructed over 12,500 units since that time.
James F. Croft, Vice Chairman of RED CAPITAL GROUP, said, "We are pleased to provide financing to Sexton for these properties, and through Fannie Mae we provided excellent terms and pricing during a time of unprecedented volatility in the financial and lending markets."
