Redwood Living and RED Mortgage Capital are celebrating a milestone in their relationship by surpassing $700 million in total financing.
The milestone comes on the heels of the two companies’ largest transaction to date, an $18.1 million refinance using Fannie Mae’s Green Building Certification Program for a 132-unit Redwood Neighborhood in Macomb Township, Michigan.
This new Redwood Neighborhood is a class-A multifamily apartment community of single-story, two-bedroom, two-bath homes with open floor plans and attached garages.
The longstanding partnership between Redwood Living and RED Mortgage Capital has been a productive one. In 2009, RED closed three loans with Redwood totaling $12.2 million. In 2017, the voume of loans closed was $223.1 million across 24 loans.
To date in 2018, transactions total more $130.9 million. Since the partnership has begun, RED has worked with Redwood to finance $715.8 million, representing more than 5,000 apartment units.
