Red Mortgage Capital Closes $60 Million SBL Portfolio in Union City, NJ

Continues to Expand Program & Portfolio Expertise

UNION CITY, N.J.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/BuildingRelationships?src=hash” target=”_blank”gt;#BuildingRelationshipslt;/agt;–Red Mortgage Capital, the lending arm of ORIX Real Estate Capital, LLC,
announces the closing of a $60 million, 18 property portfolio in Union
City, N.J. through the Freddie Mac Optigo^SM Small Balance
Loan program.

The financing was for the acquisition of the multifamily properties,
which include 481 units of affordable housing in one of the country’s
most densely populated areas. The properties range from eight to 67
units.

John Darrow, Jim Martin and Harris O’Connell with RED’s SBL Team
negotiated the portfolio transaction along with Brad Domenico of
Progress Capital.

The Union City transaction is one of RED’s largest SBL portfolio
financings to date and one of a growing number of portfolios financed by
RED in the small balance space. In the past 12 months, RED has closed 11
small balance loan portfolios totaling more than $200 million in loan
proceeds across 75 properties.

“RED’s ability to provide competitive terms and certainty of execution
on such a large portfolio could not have happened without RED’s
highly-efficient, well-engineered approach to Small Balance lending,”
said Domenico.

The Freddie Mac Optigo SBL program is a competitive option for loans
ranging from $1 million to $7.5 million secured by multifamily
properties across the nation. It brings liquidity and stability to a
market sector that was previously geographically fractured and often
constrained by sponsor or market exposure limits. In the case of the
Union City transaction, RED’s SBL team orchestrated the simultaneous
closing of 18 individual loans, allowing for better pricing and reduced
closing costs.

“Our team continually seeks to improve the customer experience,
leveraging technology and decades of industry expertise to provide our
clients a seamless execution on every transaction in this high volume
space,” said John Darrow of RED. “This focus on customer experience has
allowed RED to establish itself as a preeminent capital provider in the
small balance space.”

Optigo^SM is a registered trademark of Freddie Mac.

RED MORTGAGE CAPITAL

Recognized for its industry expertise, innovative and comprehensive
structures, and consistently high rankings, Red Mortgage Capital has
provided over $78 billion of integrated debt and equity capital since
1990, with a focus on the multifamily and affordable housing industries.

Red Mortgage Capital is a division of ORIX Real Estate Capital, LLC, a
Fannie Mae DUS®, MAP- and Lean-approved FHA, and Freddie Mac Optigo^SM
small balance lender. ORIX Real Estate Capital Holdings, LLC is
headquartered in Columbus, OH and is a wholly owned subsidiary of ORIX
Corporation USA. ORIX Real Estate Capital has 16 offices nationwide and
approximately 330 employees. Securities, Investment Banking and Advisory
Services are provided through OREC Securities, LLC, member FINRA/SIPC.

PROGRESS CAPITAL

Progress Capital is a leading Commercial Mortgage Banking firm
specializing in arranging debt for commercial real estate owners and
residential developers, with a strong focus on Agency loans. Since 1990,
Progress has successfully closed in excess of $40 billion in commercial
loans and directly funded over $150 million.

Contacts

Lisalynne Quinn
Director of Marketing
Red
Mortgage Capital
+1 469 385 1434
llquinn@redcapitalgroup.com
redcapitalgroup.com
twitter:
@Lisalynne_RED
Corp. twitter: @REDCapitalGroup