RED Closes $8.9M Mezzanine Construction Loan for Dolce Living Communities Residential, LLC in Dallas, TX

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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 an $8.9 million balance sheet construction loan to Dolce Living Communities Residential (DLCR) for the construction of Bella Terra at Twin Creeks, a 374 unit Class A apartment complex in Allen, Texas, a suburb of Dallas.

Bella Terra at Twin Creeks

RED Capital Partners, LLC, the proprietary debt and equity banking arm of comprehensive capital provider RED CAPITAL GROUP, LLC, recently completed an $8.9 million balance sheet construction loan to Dolce Living Communities Residential (DLCR) for the construction of Bella Terra at Twin Creeks, a 374 unit Class A apartment complex in Allen, Texas, a suburb of Dallas.

The $51.3M construction project will be capitalized with a Fifth Third Bank first mortgage, equity funding arranged by Nebo Capital with Mountain Capital Partners, and $8.9M in mezzanine debt provided by RED Capital Partners. RED retains the exclusivity on permanent financing for the project.

Bella Terra at Twin Creeks will be a luxury complex surrounded by lush amenities conveniently located near major shopping, large school districts and key transportation corridors within the Dallas / Fort Worth Metroplex. DLCR owns and manages seven Class A apartment communities, and is in the predevelopment stage with five additional assets in both Texas and Minnesota. The high-end multifamily communities developed and managed by DLCR typically reach stabilized occupancy prior to 100% completion.

“RED CA PITAL GROUP is tr uly a top notch lender. Linda Menk and the RED team worked within an extremely tight time frame and delivered on every commitment made,” said Russ Krivor, CEO and President of DLC Residential. “I would recommend them to any borrower or developer as both a conduit/Fannie Mae lender as well as a mezzanine lender.” Krivor continued, “The executive team with which I worked was extremely organized, responsive and worked around-the-clock to meet our needs. I couldn’t be happier with the transaction!”
Mike Moran, CEO for RED, said, “The RED balance sheet program has previously been utilized in the Seniors Housing space and we’re pleased to now extend that program to multifamily properties. Providing mezzanine debt and bridge lending to developers such as DLCR provides them with true business plan lending that can be tailored to fit their unique development needs and objectives.”

Linda Menk, Director for RED, said, “The opportunity to work with Russ and DLCR has been a privilege. We are always happy to work with a developer who has a successful track record and a proven method of delivering quality at very reasonable costs. DLCR has certainly garnered the attention of RED for future portfolio expansion.” Menk added, “We are incredibly proud of the project and value the relationship we’ve formed with DLCR, Fifth Third Bank, Nebo Capital and Mountain Capital Partners. We look forward to future funding opportunities with all participants as they grow.”

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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 $16.6 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. For more information on RED CAPITAL GROUP, LLC, visit http://www.redcapitalgroup.com.

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 RED CAPITAL GROUP, LLC
please contact:

Lisalynne Quinn
Director of Marketing
RED CAPITAL GROUP, LLC
+1 469 385 1434
llquinn(at)redcapitalgroup(dot)com

For more information on
this announcement,
please contact:

Linda Menk
Managing Director
RED CAPITAL GROUP, LLC
+1 678 877 9844
ljmenk(at)redcapitalgroup(dot)com

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Lisalynne Quinn

Linda Menk, Managing Director
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