RED Provides $3.85M Balance Sheet Construction Mezzanine Loan for Discovery Senior Living

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RED Capital Partners, LLC, the proprietary debt and equity banking arm of comprehensive capital provider RED CAPITAL GROUP, LLC, recently completed a $3.85 million mezzanine balance sheet construction loan to an affiliate of Discovery Senior Living.

Discovery Village at Palm Beach Gardens

RED's experienced, thoughtful and creative approach to financing continues to allow Discovery Senior Living to expand its portfolio of world class communities in an efficient and effective manner.

RED Capital Partners, LLC, the proprietary debt and equity banking arm of comprehensive capital provider RED CAPITAL GROUP, LLC, recently completed a $3.85 million mezzanine balance sheet construction loan to an affiliate of Discovery Senior Living.

Discovery Village at Palm Beach Gardens will be a 120-unit Class A seniors housing community located in Palm Beach Gardens, FL. When complete, the community will include 30 Supervised Independent Living, 60 Assisted Living, and 30 Memory Care units.

The community will include amenities such as dining rooms, game room, club and bar, Bistro and ice cream parlor, pet park, fitness center, heated indoor therapy pool, movie theater, beauty salon, spa, barber shop, craft center, and garden area.

The facility will also host a state-of-the-art Discovery Zone Media Center with cognitive brain fitness technology.

Discovery Senior Living is an award winning, fully integrated, seniors housing development and management company based in Bonita Springs, FL. Discovery operates 14 senior living communities with over 3,500 units and is actively acquiring and developing in Texas and the southern United States.

Richard Hutchinson, President and CFO, Discovery Senior living, stated, "We are excited about continuing our long relationship with RED. Their experienced, thoughtful and creative approach to financing continues to allow Discovery Senior Living to expand its portfolio of world class communities in an efficient and effective manner."

Kathryn Burton Gray, Senior Managing Director for RED said, “Discovery Senior Living is one of the premier owner/operators in the country. We are pleased that, once again, they chose RED as one of their capital partners.”

James Scribner, Managing Director for RED said, “We are excited to be working with the Discovery team. We have had a great, long-standing relationship with Richard and his team. For this transaction, creativity was essential – being able to work through the complexities of a mezzanine loan takes expertise and creativity. Additionally, our strong relationship with the first mortgage lender, Community & Southern Bank, was instrumental.”

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About RED CAPITAL GROUP, LLC

Recognized for its industry expertise, innovative and comprehensive structures, and consistently high rankings, RED CAPITAL GROUP, LLC has provided over $55.3 billion of integrated debt and equity capital since 1990 to the seniors housing and health care, multifamily, affordable, and student housing industries through three operating companies. RED Mortgage Capital, LLC is a leading Fannie Mae DUS® and MAP- and Lean-approved FHA lender with a mortgage servicing portfolio of almost $17 billion. RED Capital Markets, LLC (MEMBER FINRA/SIPC) is a leader in the distribution of Fannie Mae and Ginnie Mae Project MBS, and provides structuring, underwriting, placement, and advisory services for tax-exempt and taxable housing and health care bonds. RED Capital Partners, LLC provides proprietary debt and equity solutions, and asset management in a range of forms, including subordinated gap and bridge loans. RED CAPITAL GROUP, LLC is a subsidiary of ORIX USA Corporation.

About ORIX USA Corporation

ORIX USA Corporation is a diversified financial company with approximately $6 billion of assets in sectors spanning commercial finance, venture finance, commercial real estate and public finance, as well as $25 billion of assets managed for others. Operating subsidiaries include Houlihan Lokey, RED CAPITAL GROUP and Mariner Investment Group. Headquartered in Dallas, Texas, ORIX USA and its subsidiaries have more than 1,400 employees and offices in major cities including New York, Los Angeles, London and Tokyo.

ORIX USA is a wholly owned subsidiary of ORIX Corporation, a Tokyo-based, publicly owned international financial services company with operations in 35 countries worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX USA, visit http://www.orix.com.

DUS® is a registered trademark of Fannie Mae

For more information on
this announcement,
please contact:
Kathryn Burton Gray
Senior Managing Director
RED Mortgage Capital, LLC
+1 949 485-3240
Kburtongray(at)redcapitalgroup(dot)com

James D. Scribner
Managing Director
RED Mortgage Capital, LLC
+1 203 332 7110
jdscribner(at)redcapitalgroup(dot)com

For more information on
RED CAPITAL GROUP, LLC
please contact:
Lisalynne Quinn
Director of Marketing
RED CAPITAL GROUP, LLC
+1 469 385 1434
llquinn(at)redcapitalgroup(dot)com

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Lisalynne Quinn

James D. Scribner
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