RED PROVIDES $48.86M MULTIFAMILY CONSTRUCTION LOAN

GAITHERSBURG, MD. — Red Mortgage Capital has provided $48.86 million in non-recourse FHA financing for the construction and mortgage financing for the 300-unit Residences at Hidden Creek, a Class A multifamily property near downtown Gaithersburg. Woodfield Investments, the developer, has selected Clark Builders Group as the general contractor, Bozzuto Management Co. as the property manager and The Housing Studio as the architectural firm.