Red Oak Capital Holdings Issues $4M Bridge Loan For Bon Air Apartments In Indianapolis

The Bon Air Apartments, located at 21 West 16th Street in Indianapolis, is a multifamily property consisting of 42 units. Red Oak Capital Holdings LLC provided a $4 million bridge loan for the property, representing 54.4% of its value. The loan, issued by Stratos Athanassiades, Thomas Gorski, and Jesus Martinez of Red Oak, was arranged by Paul Meyer of Bristol Capital on behalf of the borrower, 21 West QOZ LLC.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,000,000
• Market: Indianapolis
• Loan Type: Bridge Loan
• Loan Terms: Nonrecourse, interest-only payments, a two-year term, and two six-month extension options
• Lender: Stratos Athanassiades, Thomas Gorski, and Jesus Martinez - Red Oak Capital Holdings
• Landlord: 21 West QOZ LLC
• Broker: Paul Meyer - Bristol Capital

The $4 million bridge loan for Bon Air Apartments was facilitated by Red Oak Capital Holdings and arranged by Bristol Capital. The loan, with nonrecourse terms and interest-only payments, is aimed at supporting the property's renovation. The key individuals involved in this transaction include Stratos Athanassiades, Thomas Gorski, Jesus Martinez from the lending side, and Paul Meyer representing Bristol Capital as the broker.