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ORIX USA Acquires Red Capital Group From PNC Bank

An investment group led by ORIX USA and including Stonehenge Partners of Columbus, Ohio, has acquired Red Capital Group from PNC Bank.

Red Capital Group provides financing for multifamily, senior living and health care projects through various FHA and Fannie Mae programs. Red Capital Group includes a registered broker-dealer that provides underwriting and syndication of multifamily housing bonds and the related tax credits.

Red Capital Group employs more than 200 people and is headquartered in Columbus, Ohio, with origination offices nationwide including San Diego, Newport Beach, Chicago, Dallas, Boston, Charlotte, Nashville and Reston, Virginia.

Although a subsidiary of ORIX USA, Red Capital Group will continue to operate under the Red name from its present offices.

William Roberts has been named CEO of Red Capital Group. Mr Roberts founded Red and served as its CEO from 1995 to 2007.

Jim Thompson, CEO of ORIX USA, said: “We are fortunate to be able to add Red’s experience in multifamily, senior and health care finance to ORIX Capital Markets’ commercial real estate capabilities. FHA and Fannie Mae will continue to be important components of the nation’s housing finance programs; the RED acquisition enables ORIX to deploy its capital into those important markets.

“The opportunity to co-invest with Stonehenge Partners in the transaction was especially meaningful as ORIX Capital Markets was at one time a joint venture involving many of the principals of Stonehenge and Banc One.”