RRA Capital is pleased to announce the successful closing of a $24 million bridge loan to finance five multifamily properties in Chicago. This diversified portfolio encompasses 162,087 rentable square feet, featuring four retail suites and 182 multifamily units across three distinct Chicago neighborhoods.

The borrower plans to leverage RRA Capital's future funding facility to finance select unit upgrades and exterior enhancements to revitalize and enhance these storied properties. The loan structure offers $24 million in non-recourse, interest-only financing with two extension options, providing flexibility and financial stability. This deal showcases the effectiveness of bridge loans in facilitating significant real estate investments and improvements.

Drew Schneider, Senior Director of Debt Investments at RRA Capital, emphasized the relevance of this transaction: "We are excited to support the borrower in their mission to enhance these properties and invigorate these vibrant Chicago neighborhoods. Our customized financing solutions enable substantial value-add opportunities, ensuring long-term success for both the portfolio and our borrower."

This deal, arranged in collaboration with Hirsch Simins, Managing Director at Lument, underscores RRA Capital’s dedication to fostering multifamily investments and community development through innovative and flexible funding solutions.

About RRA Capital

RRA Capital is a nationwide commercial real estate lender, specializing in bridge loans and structured finance solutions between $5-40 million. With a focus on value-add opportunities and a commitment to the team's success, RRA Capital delivers customized financing options that meet the unique needs of real estate investors and developers. Visit www.rracapital.com to learn more.

Hallie White Director of Marketing hwhite@rracapital.com