Red Mortgage Provides $13 Million in FHA Financing for Wisconsin Multifamily Property

Red Mortgage Capital LLC, the mortgage banking arm of comprehensive capital provider Red Capital Group, recently processed, funded and will service a $13.4 million FHA 223(f) financing for Hawks Ridge Apartments, a 193-unit property located in Beloit, Wis. owned by Teronomy Builders of Elkhorn, Wis.

“Red's ability to secure a very low interest rate for long term financing will help ensure the continued success of Hawks Ridge Apartments,” says Thomas Larson, chief financial officer of Teronomy Builders.

Red Capital Group, based in Columbus, Ohio, provides debt and equity capital to the multifamily, student and seniors housing, and health care industries.