Updated Jul 9, 2025
Red Oak Capital Holdings Provides $1.5 Million Bridge Loan For Community Investment Group In Norfolk
717 Guy Avenue
$1,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 8, 2025
About this deal
AI
The property asset involved is a garden-style multifamily community located at 717 Guy Avenue, Norfolk, VA. The asset is part of an acquisition and reposition strategy involving 32 Fenner Apartments. The loan amount for this transaction was $1,500,000, structured as a bridge loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Lender: Gary Bechtel - Red Oak Capital Holdings
- Landlord: Community Investment Group
- Loan Type: Bridge
- Market: Norfolk, VA
The deal was facilitated by Gary Bechtel of Red Oak Capital Holdings, representing the lender, who provided the financial backing for Community Investment Group, the landlord involved in the acquisition. This transaction showcases Red Oak Capital Holdings' role in supporting multifamily investments in the Norfolk market.
On the Map
$1,500,000
MultiFamily
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Players
Norfolk MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93