RED Mortgage Capital, LLC, the mortgage lending entity of RED CAPITAL GROUP, LLC, recenty provided permanent financing in the amount of $8.225 million for Waterstone at Village Square, a multi-family community located in Lake Orion, Mich., about 36 miles north of Detroit.
The refinance of the original construction loan used a Fannie Mae DUS® 20-year term fixed-rate loan with a 30-year amortization. Redwood Living completed construction in early 2014 on this 77-unit multi-family ranch-style community.
Steve Kimmelman founded Redwood Living’s predecessor company in 1991 with a focus on multi-family properties designed around the desires of residents, which included a single-story open floor design with an attached garage.
