Hart of The RHG arranges $3.3m for Dougherty of Elm Group Dev.

According to Daniel Monte, president of The Rose Hill Group of WNY LTD (RHG), the firm has arranged $3.3 million in construction/permanent financing for two retail buildings located in the retail corridor of  Dewitt. David Hart, assistant vice president arranged the financing through a regional bank. The Erie Blvd. location will contain a 6,554 s/f upscale building which will house Vitamin Shoppe and Aspen Dental. The other is the renovation of a 18,812 s/f building on Bridge St. which will have a home design theme and feature tenants such as Olum's Appliances, The Bath Showroom, and Armstrong Cabinets. The projects are both near the Shoppingtown Mall which is one of the retail areas in city and the entry point for new national tenants. The borrower is Michael Dougherty of Elm Group Development. RHG has a correspondent relationship with a number of life insurance companies, including  Allstate, American Equities, CUNA Mutual (Members Capital), Delaware Investments, Genworth Financial, Green Park Financial - Fannie Mae DUS, National Life of Vermont, Nationwide Life Insurance, Ohio National Financial Services, Protective Life Corp. and Security Mutual.  RHG's lenders have the ability to finance all property types in loan amounts greater than $1 million. RHG is also a member of Strategic Alliance Mortgage, LLC (SAM).  SAM, established in 1998, now includes 23 independent commercial banking firms consisting of over 40 offices with more than 156 mortgage originators in the U.S. SAM members collaborate to present the most advantageous real estate capital markets execution to their clients. Members utilize a proprietary web-based system to communicate and exchange cutting-edge trends from across the country to provide their members with optimal real estate financing solutions. Collectively, SAM members originated over $13 billion of commercial real estate capital transactions in 2007 and service in excess of $30 billion of commercial mortgage loans.