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SALT LAKE CITY — Red Mortgage Capital LLC has provided $9.79 million in FHA 221(d)(4) new construction financing for the 125-unit Providence Place Apartments, an affordable rental project in Salt Lake City. The loan has a 40-year amortization and is backed by GNMA mortgage-backed securities. Red Capital Markets LLC, RED’s investment banking arm, advised Wasatch Advantage Group LLC in the transaction. Wasatch’s multifamily development will be restricted to residents earning no more than 60 percent of area median income and will be managed by its affiliate, Wasatch Property Management.