Red Capital Group, a commercial mortgage lender and servicer in Columbus, Ohio, has been sold by PNC Financial Services Group Inc. to an investor group led by Orix USA Corp., a Dallas subsidiary of Japan's Orix Corp.
Among the members of the investment group is Stonehenge Partners, also of Columbus.
The sale was announced Monday; the price was not disclosed.
Red Capital provides financing for multifamily, senior living and health-care projects through various Federal Housing Administration and Fannie Mae programs. Under the new ownership it will continue to operate under the Red name.
William Roberts, who founded Red Capital and was its chief executive officer from 1995 to 2007, is back as CEO.
Red Capital services $12.5 million in commercial mortgage loans. It also has a registered broker-dealer unit that underwrites and syndicates multifamily housing bonds and the related tax credits.