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RED Mortgage Capital Closes $60M SBL Portfolio in Union City, NJ

RED Mortgage Capital closed a $60 million, 18 property portfolio in Union City, N.J. through the Freddie Mac OptigoSM Small Balance Loan program. The financing was for the acquisition of the multifamily properties, which include 481 units of affordable housing in one of the country’s most densely-populated areas. The properties range from eight to 67 units.

RED SBL Team’s John Darrow, Jim Martin and Harris O’Connell negotiated the portfolio transaction, along with Brad Domenico of Progress Capital.

The Union City transaction is one of RED’s largest SBL portfolio financings to date, and one of a growing number of portfolios financed by RED in the small balance space. In the past 12 months, RED has closed 11 small balance loan portfolios totaling more than $200 million in loan proceeds across 75 properties.


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
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