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RED Mortgage, Redwood Living Pass $700M Mark on Financings
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RED Mortgage Capital and Redwood Living have now surpassed $700 million in total financings to Redwood projects over the past 10 years. The milestone comes as a result of the two companies’ largest transaction yet, an $18.1-million refinance utilizing Fannie Mae’s Green Building Certification Program for a 132-unit Redwood Neighborhood in Macomb Township, MI (pictured).
“Celebrating mutual successes never grows old,” said Andy Warnock, managing director for RED. “It doesn’t seem that long ago that RED was visiting Redwood in their corporate office of three employees (2008). Today, Redwood is outgrowing their office space, as their geographic footprint and management portfolio continues to swell alongside its investment in human capital.”
Since their partnership began, RED has worked with Redwood to finance $715.8 million, representing more than 5,500 apartment units. Year to date, the two companies have partnered on $130.9 million in financings, including the Macomb Township project.
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