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11-27-15

RED Continues Strong Growth with Construction Loan for EB-5 Eligible Senior Housing Development

R EAL E STATE J OURNAL the most comprehensive source for commercial real estate news Columbus, OH Nov. 11, 2015 – RED Capital Partners, LLC, the proprietary debt and equity banking arm of comprehensive capital provider RED CAPITAL GROUP, LLC, recently lead a $36.4 million first mortgage construction loan to Homestead Senior Living LLC. The balance of the capital stack was provided by an institutional private equity group and Regional Capital Group, which will provide EB-5 Financing, along with sponsor’s equity. Pike Senior Housing Partners LLC, based in Paterson, NJ, partnered with Solvere Senior Living (an affiliated company of Solutions Ad isors LLC), based in Princeton, NJ, to dev lop the community. Homestead at Hamilton will be a 195-unit, Class A seniors housing community l cated in Hamilton, NJ, utside of Princeton and appr ximately a hour from New York City. The community will consist of 96 independent living units, 75 assisted living units and 24 memory care units. RED continues growth with loan for EB-5 eligible senior housing development RED arranges $36.4m construction loan for Homestead Senior Living LLC

ISSUE HIGHLIGHTS Volume 27 Issue 22 Nov. 27 - Dec. 10, 2015

AMILTON, NJ — RED Capital Part- ners, LLC , the debt and equity banking arm of comprehensive capital pro- vider RED Capital Group, LLC , recently lead a $36.4 million first mortgage con- struction loan to Homestead Senior Living LLC. The bal- ance of the capital stack was provided by an institutional private equity group and Regional Capital Group , which will provide EB-5 Fi- nancing, along with sponsor’s equity. Pike Senior Housing Partners LLC , based in Paterson, NJ, partnered with Solvere Senior Living (an affiliated company of Solu- tions Advisors LLC ), based in Princeton, NJ, to develop the community. Homestead at Hamilton will be a 195- unit, class A senior housing community located in Ham- ilton, outside of Princeton and approximately an hour H

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Homestead at Hamilton

from New York City. The community will consist of 96 independent living units, 75 assisted living units and 24 memory care units. The project has a highly complex and structured capi- tal structure, including an interim, bridge-to-EB5, mez- zanine lender. Due to the timing and uncertainty of the EB5 program, the borrower wanted maximum flexibility. Through creative structuring, RED Capital Partners worked closely with the borrower and other credit partners to achieve this goal. The project has a highly complex and structured capital structure, including an interim, bridge- to-EB5, mezzanine lender. Due to the timing and uncertainty of the EB5 program, the borrower wanted maximum flexibility. Through creative structuring, RED Capital Partners worked closely with he borrower a d other credit pa tners to achieve this g al. “The creativity, flexibility and perse eranc of the e tire RED team was outstanding. This ransaction presented unique challenges through the underwriting process,” stated David Weiner, Principal, Pike Seniors Housing Partners, LLC. Kristin Kutac Ward, Principal, Solvere stated, "As we continue to grow our management arm, Solvere S nior Living, we feel fortunate to have a part er in RED that believes in our vision and facilitate our growth.” “The creativity, flexibility and perseverance of the entire RED team was outstanding. This transaction presented unique challenges through the underwriting process,” said David Weiner , principal, Pike Seniors Housing Part- ners, LLC. Kristin Kutac Ward , prin- cipal, Solvere said, "As we continue to grow our manage- ment arm, Solvere Senior Liv- ing, we feel fortunate to have a partner in RED that believes in our vision and facilitate our growth.” “It’s always rewarding to

work with a partner on a com- plex structured deal like this opportunity,” said Kathryn Burton Gray , senior manag- ing director for RED. ”We are very pleased that we were able to provide a customized solution for the team at Home- stead Senior Living. James Scribner , manag- ing director for RED said, “I’ve worked with several princi- pals involved in Homestead over the years and am excited to see this project come to fruition. Each of the partners brings tremendous strength to the team.” n had the ability to upgrade the asset considerably with the implementation of a capital improvement plan,” said Wei- lheimer. “The multifamily market is so hot in New Jersey that the value of this property was increasing every day the prop- erty was under contract,” said Greenberg. “The purchaser is very familiar with the market, which confirmed his decision to acquire this asset.” Jamestowne Village is lo- cated just north of Rte. 37, approximately five miles west of the Atlantic Ocean, 56 miles north of Philadelphia and 73 miles south of New York City. Toms River and Ocean County are among the fastest growing municipalities and counties, respectively, in New Jersey. As of the 2010 United States Census, the county population increased 12.8% from the 2000 Census to become the fifth- most populous county in the state. n

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UPCOMING CONFERENCES DECEMBER 9, 2015 NJ Commercial Health Care & Medical Properties Summit JANUARY 20, 2016 NJ Real Estate Construction & Development Summit FEBRUARY 5, 2016 PA Apartment/ Multifamily Conference FEBRUARY 11, 2016 NJ Industrial Real Estate and Development MARCH 18, 2016 NJ Land Development Summit

Kislak completes $35.2m sale of Jamestowne Village Apartments in Toms River, NewJersey

TOMS RIVER, NJ — The Kislak Company Inc. an- nounced the recent $35.2 million sale of Jamestowne Village Apartments in Toms River, Ocean County. Senior vice president Matt Wei- lheimer represented the seller, co-managing director Jeffrey Wiener and vice

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