Raelcorp Closes on Permanent Take-Out Loan with GE Capital
DALLAS – October 3rd, 2014 – Rael Development Corporation (“Raelcorp”) and RDC Fund VI, Inc. are pleased to announce the closing of a $13.2 million permanent loan with GE Capital, secured by the 264-bed student housing development known as Gather Southern. The property was delivered in the Fall of 2014 and reached 100% occupancy during the construction period.
Gather Southern is conveniently located at the front door to the University of Memphis campus, a prime location along Southern Avenue for easy access to and from classes. It is also directly adjacent to the campus recreation facilities.
The state-of-the-art property also provides a full-suite of amenities, including a swimming pool, movie theater, 24-hour fitness center, computer lab, on-site staff, study rooms, individual leasing, and more. Additionally, each unit is fully-furnished, offering individually-keyed bedrooms and private bathrooms for every student/resident.
About Rael Development Corporation
Rael Development Corporation (Raelcorp) is a privately-held real estate company focused on the development, investment and management of commercial real estate. Founded in 1977, the firm has acquired and developed an array of trophy properties in select markets across the country. The company is guided by its experienced senior leadership along with a dedicated staff of veteran real estate professionals. The company maintains offices in Newport Beach, California and Dallas, Texas. For more information on RaelCorp, please visit the company website at www.raelcorp.com or send us an email at firstname.lastname@example.org.
About RDC U.S. Real Estate Funds
RDC U.S. Real Estate Funds (RDC) are a series of private equity partnerships established by the Principals of Rael Development Corporation, that invest in well located real estate assets in the United States. Investments have included existing value-added multi-family properties, opportunistic retail strategies and ground-up Class A student housing.
Karah Rathmell | Director Marketing & Communications
P: (214) 613-4712
1100 Quail Street, Newport Beach, CA 92660 | 3001 Knox, #303, Dallas, TX 75205