FOR IMMEDIATE RELEASE. Charlotte, NC. (October 31, 2024) – ROCF II Series, a series of Red Oak Capital Fund Series, LLC (the “Company”) today announced that it has extended the expiration time in its previously announced exchange offer (the Exchange Offer”), in which the holders of its outstanding 8.5% Senior Secured Bonds due 2024 (CUSIP No. 756787 AB3) (the “Old Bonds”) were offered the opportunity to exchange all or a portion of their Old Bonds for an equal principal amount of a new issue of 9.5% Senior Secured Bonds due 2028 (CUSIP No. 75679F AA6) (the “New Bonds”). The terms and conditions of the Exchange Offer were set forth in the exchange circular (the “Exchange Circular”), which was an exhibit to a Current Report on Form 1-U filed by the Company with the Securities and Exchange Commission (“SEC”) on April 29, 2024. The Company is the successor by merger to Red Oak Capital Fund II, LLC, the original issuer of the Old Bonds.

The Company had previously extended the expiration time of the Exchange Offer from 5:00 p.m., New York City Time, on June 28, 2024, to 5:00 p.m., New York City Time, on October 31, 2024 (the “Current Expiration Time”). The Company now is further extending the expiration time from the Current Expiration Time to 5:00 p.m., New York City Time, on November 30, 2024 (the “New Expiration Time”). The deadline to validly withdraw tenders of the Old Bonds also was extended to the New Expiration Time. The Exchange Offer now will expire at the New Expiration Time, unless further extended or terminated. The New Expiration Time is subject to earlier termination, withdrawal or extension by the Company in its sole and absolute discretion. We now expect the New Bonds to be issued on December 2, 2024.  All other terms of the Exchange Offer remain unchanged.

Neither the Company nor its board of directors or employees have made or are making any representation or recommendation as to whether or not any holder should tender Old Bonds in exchange for New Bonds in the Exchange Offer.

Cautionary Statement Regarding Forward Looking Information
Certain matters discussed in this news release are not historical facts but are forward-looking statements regarding the Company’s intention to complete the Exchange Offer. The Company’s ability to complete the Exchange Offer will depend, among other things, on market conditions, and there can be no assurance that the Company will complete this initiative on the anticipated terms or at all. Risks and uncertainties related to the Exchange Offer and to being an investor in either the Old Notes or the New Notes, are discussed in the Company’s SEC filings, including its Form 1-U relating to the Exchange Offer, which is referenced below. The Company undertakes no obligation to update forward-looking statements.

Availability of Certain Important Information
The Company filed with the SEC on April 29, 2024 a Current Report on Form 1-U that discloses certain information about (and contains certain documents filed in connection with) the Exchange Offer. The Company also has filed an Annual Report on Form 1-K for the fiscal year ended December 31, 2023.  The Form 1-U and Form 1-K contain important financial and other information regarding the Company. The Company recommends that holders of Old Bonds read these documents carefully before deciding whether to tender their Old Bonds in exchange for New Bonds in the Exchange Offer. Holders of Old Bonds and other interested parties may obtain a free copy of these and other relevant documents at the SEC's website, www.sec.gov, or from the Company at:

Red Oak Capital Holdings, LLC
ATTN: Investor Relations
5925 Carnegie Boulevard, Suite 110
Charlotte, NC 28209
980-288-6627
[email protected]

Additional information concerning the terms of the Exchange Offer and copies of the exchange circular and other documents relating to the Exchange Offer may be obtained from the information agent. The information agent is:

Crescent Securities Group, Inc.
4975 Preston Park Blvd., Suite 820
Plano, TX 75093
Attn: Nick Duren
[email protected]
Banks and Brokers call: (972) 490-0150
Toll free (800) 880-5567

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities. There shall not be any issuance of the New Bonds in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such state.

FOR IMMEDIATE RELEASE. Charlotte, NC. (September 24, 2024) – ROCF II Series, a series of Red Oak Capital Fund Series, LLC (the “Company”) today announced that it has extended the expiration time in its previously announced exchange offer (the Exchange Offer”), in which the holders of its outstanding 8.5% Senior Secured Bonds due 2024 (CUSIP No. 756787 AB3) (the “Old Bonds”) were offered the opportunity to exchange all or a portion of their Old Bonds for an equal principal amount of a new issue of 9.5% Senior Secured Bonds due 2028 (CUSIP No. 75679F AA6) (the “New Bonds”). The terms and conditions of the Exchange Offer were set forth in the exchange circular (the “Exchange Circular”), which was an exhibit to a Current Report on Form 1-U filed by the Company with the Securities and Exchange Commission (“SEC”) on April 29, 2024. The Company is the successor by merger to Red Oak Capital Fund II, LLC, the original issuer of the Old Bonds.

The Company had previously extended the expiration time of the Exchange Offer from 5:00 p.m., New York City Time, on June 28, 2024, to 5:00 p.m., New York City Time, on July 31, 2024. The Company had further extended the expiration time of the Exchange from 5:00 p.m., New York City Time, on July 31, 2024, to 5:00 p.m., New York City Time, on September 30, 2024 (the “Current Expiration Time”). The Company now is further extending the expiration time from the Current Expiration Time to 5:00 p.m., New York City Time, on October 31, 2024 (the “New Expiration Time”). The deadline to validly withdraw tenders of the Old Bonds also was extended to the New Expiration Time. The Exchange Offer now will expire at the New Expiration Time, unless further extended or terminated. The New Expiration Time is subject to earlier termination, withdrawal or extension by the Company in its sole and absolute discretion. We now expect the New Bonds to be issued on November 1, 2024.  All other terms of the Exchange Offer remain unchanged.

Neither the Company nor its board of directors or employees have made or are making any representation or recommendation as to whether or not any holder should tender Old Bonds in exchange for New Bonds in the Exchange Offer.

Cautionary Statement Regarding Forward Looking Information

Certain matters discussed in this news release are not historical facts but are forward-looking statements regarding the Company’s intention to complete the Exchange Offer. The Company’s ability to complete the Exchange Offer will depend, among other things, on market conditions, and there can be no assurance that the Company will complete this initiative on the anticipated terms or at all. Risks and uncertainties related to the Exchange Offer and to being an investor in either the Old Notes or the New Notes, are discussed in the Company’s SEC filings, including its Form 1-U relating to the Exchange Offer, which is referenced below. The Company undertakes no obligation to update forward-looking statements.

Availability of Certain Important Information

The Company filed with the SEC on April 29, 2024 a Current Report on Form 1-U that discloses certain information about (and contains certain documents filed in connection with) the Exchange Offer. The Company also has filed an Annual Report on Form 1-K for the fiscal year ended December 31, 2023.  The Form 1-U and Form 1-K contain important financial and other information regarding the Company. The Company recommends that holders of Old Bonds read these documents carefully before deciding whether to tender their Old Bonds in exchange for New Bonds in the Exchange Offer. Holders of Old Bonds and other interested parties may obtain a free copy of these and other relevant documents at the SEC's website, www.sec.gov, or from the Company at:

Red Oak Capital Holdings, LLC

ATTN: Investor Relations

5925 Carnegie Boulevard, Suite 110

Charlotte, NC 28209

980-288-6627

[email protected]

Additional information concerning the terms of the Exchange Offer and copies of the exchange circular and other documents relating to the Exchange Offer may be obtained from the information agent. The information agent is:

Crescent Securities Group, Inc.

4975 Preston Park Blvd., Suite 820

Plano, TX 75093

Attn: Nick Duren

[email protected]

Banks and Brokers call: (972) 490-0150

Toll free (800) 880-5567

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities. There shall not be any issuance of the New Bonds in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such state.

ROCF II Series, a series of Red Oak Capital Fund Series, LLC (the “Company”) today announced that it has extended the expiration time in its previously announced exchange offer (the Exchange Offer”), in which the holders of its outstanding 8.5% Senior Secured Bonds due 2024 (CUSIP No. 756787 AB3) (the “Old Bonds”) were offered the opportunity to exchange all or a portion of their Old Bonds for an equal principal amount of a new issue of 9.5% Senior Secured Bonds due 2028 (CUSIP No. 75679F AA6) (the “New Bonds”).  The terms and conditions of the Exchange Offer were set forth in the exchange circular (the “Exchange Circular”), which was an exhibit to a Current Report on Form 1-U filed by the Company with the Securities and Exchange Commission (“SEC”) on April 29, 2024. The Company is the successor by merger to Red Oak Capital Fund II, LLC, the original issuer of the Old Bonds.

The Company had previously extended the expiration time of the Exchange Offer from 5:00 p.m., New York City Time, on June 28, 2024, to 5:00 p.m., New York City Time, on July 31, 2024 (the “Current Expiration Time”). The Company now is further extending the expiration time from the Current Expiration Time to 5:00 p.m., New York City Time, on September 30, 2024 (the “New Expiration Time"). The deadline to validly withdraw tenders of the Old Bonds also was extended to the New Expiration Time. The Exchange Offer now will expire at the New Expiration Time, unless further extended or terminated. The New Expiration Time is subject to earlier termination, withdrawal or extension by the Company in its sole and absolute discretion. We now expect the New Bonds to be issued on October 1, 2024.  All other terms of the Exchange Offer remain unchanged.

Neither the Company nor its board of directors or employees have made or are making any representation or recommendation as to whether or not any holder should tender Old Bonds in exchange for New Bonds in the Exchange Offer.

Cautionary Statement Regarding Forward Looking Information
Certain matters discussed in this news release are not historical facts but are forward-looking statements regarding the Company’s intention to complete the Exchange Offer. The Company’s ability to complete the Exchange Offer will depend, among other things, on market conditions, and there can be no assurance that the Company will complete this initiative on the anticipated terms or at all. Risks and uncertainties related to the Exchange Offer and to being an investor in either the Old Notes or the New Notes, are discussed in the Company’s SEC filings, including its Form 1-U relating to the Exchange Offer, which is referenced below. The Company undertakes no obligation to update forward-looking statements.

Availability of Certain Important Information
The Company filed with the SEC on April 29, 2024 a Current Report on Form 1-U that discloses certain information about (and contains certain documents filed in connection with) the Exchange Offer.  The Company also has filed an Annual Report on Form 1-K for the fiscal year ended December 31, 2023.  The Form 1-U and Form 1-K contain important financial and other information regarding the Company. The Company recommends that holders of Old Bonds read these documents carefully before deciding whether to tender their Old Bonds in exchange for New Bonds in the Exchange Offer. Holders of Old Bonds and other interested parties may obtain a free copy of these and other relevant documents at the SEC's website, www.sec.gov, or from the Company at:

Red Oak Capital Holdings, LLC
ATTN: Investor Relations
5925 Carnegie Boulevard, Suite 110
Charlotte, NC 28209
980-288-6627
[email protected]

Additional information concerning the terms of the Exchange Offer and copies of the exchange circular and other documents relating to the Exchange Offer may be obtained from the information agent. The information agent is:

Crescent Securities Group, Inc.
4975 Preston Park Blvd., Suite 820
Plano, TX 75093
Attn: Nick Duren
[email protected]
Banks and Brokers call: (972) 490-0150
Toll free (800) 880-5567

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities. There shall not be any issuance of the New Bonds in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such state.

ROCF II Series, a series of Red Oak Capital Fund Series, LLC (the “Company”) today announced that it has extended the expiration time in its previously announced exchange offer (the Exchange Offer”), in which the holders of its outstanding 8.5% Senior Secured Bonds due 2024 (CUSIP No. 756787 AB3) (the “Old Bonds”) were offered the opportunity to exchange all or a portion of their Old Bonds for an equal principal amount of a new issue of 9.5% Senior Secured Bonds due 2028 (CUSIP No. 75679F AA6) (the “New Bonds”) upon the terms of and subject to the conditions set forth in the exchange circular (the “Exchange Circular”), which was an exhibit to a Current Report on Form 1-U filed by the Company with the Securities and Exchange Commission (“SEC”) on April 29, 2024. The Company is the successor by merger to Red Oak Capital Fund II, LLC, the original issuer of the Old Bonds.

The Company is extending the previously announced expiration time, which currently is 5:00 p.m., New York City Time, on June 28, 2024, to 5:00 p.m., New York City Time, on July 31, 2024 (the “New Expiration Time"). The deadline to validly withdraw tenders of the Old Bonds also was extended to the New Expiration Time. The Exchange Offer now will expire at the New Expiration Time, unless further extended or terminated. The New Expiration Time is subject to earlier termination, withdrawal or extension by the Company in its sole and absolute discretion. We now expect the New Bonds to be issued on August 1, 2024.  All other terms of the Exchange Offer remain unchanged.

Neither the Company nor its board of directors or employees have made or are making any representation or recommendation as to whether or not any holder should tender Old Bonds in exchange for New Bonds in the Exchange Offer.

Cautionary Statement Regarding Forward Looking Information

Certain matters discussed in this news release are not historical facts but are forward-looking statements regarding the Company’s intention to complete the Exchange Offer. The Company’s ability to complete the Exchange Offer will depend, among other things, on market conditions, and there can be no assurance that the Company will complete this initiative on the anticipated terms or at all. Risks and uncertainties related to the Exchange Offer and to being an investor in either the Old Notes or the New Notes, are discussed in the Company’s SEC filings, including its Form 1-U relating to the Exchange Offer. The Company undertakes no obligation to update forward-looking statements.

Availability of Certain Important Information

The Company has filed with the SEC a Current Report on Form 1-U that discloses certain information about the Exchange Offer.  The Form 1-U and certain documents filed with the SEC in connection with the Exchange Offer contain important information. The Company recommends that holders of Old Bonds read these documents carefully before deciding whether to tender their Old Bonds in exchange for New Bonds in the Exchange Offer. Holders of Old Bonds and other interested parties may obtain a free copy of these and other relevant documents at the SEC's website, www.sec.gov, or from the Company at:

Red Oak Capital Holdings, LLC
ATTN: Investor Relations
5925 Carnegie Boulevard, Suite 110
Charlotte, NC 28209
980-288-6627
[email protected]

Additional information concerning the terms of the Exchange Offer and copies of the exchange circular and other documents relating to the Exchange Offer may be obtained from the information agent. The information agent is:

Crescent Securities Group, Inc.
4975 Preston Park Blvd., Suite 820
Plano, TX 75093
Attn: Nick Duren
[email protected]
Banks and Brokers call: (972) 490-0150
Toll free (800) 880-5567

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities. There shall not be any issuance of the New Bonds in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such state.

Grand Rapids, MI – February 1, 2021 – Red Oak Financial, a Michigan-based commercial real estate finance company, added Nicolas “Nick” Jans to the firm’s growing team. He was named Regional Manager and will be based in Texas. 

Jans contributes more than 36 years of industry experience encompassing the origination and closing of in excess of $2.5 billion in commercial real estate financings. He will hold responsibility for originating and processing commercial real estate bridge loans on income producing property across several asset classes. Additional responsibilities involve cultivating and building deal relationships within the mortgage banking and broker community across a multi-state region in the U.S.’s Central Region. 

Red Oak’s Gary Bechtel said, “The toolsets and skills Nick has amassed over the years will serve him well in this new position at Red Oak as we continue to expand our footprint across the country. His skills in cultivating internal and external relationships, resolving complex negotiations, and ability to communicate with his team make him a force on our team.”

Prior to joining Red Oak, Jans served as the Southwest Regional Director for Money360, where he sourced and closed in excess of $140 million in new bridge loans over 30 months. Prior to that, Jans served in leadership positions at Willow Bend Commercial Capital, New York Life Investment Management, and Massachusetts Mutual Life Insurance Co (now Barings Real Estate Advisers), with all positions based in Dallas.  

Jans said, “This is the perfect time to join Red Oak because the company’s institutional approach to small balance lending aligns well with my background and skill set. I plan to apply a deep knowledge of commercial real estate financing products and markets to the process of loan origination, underwriting, portfolio management, asset/loan workouts and valuation for the benefit of Red Oak borrowers. Much of this is a result of the longstanding loan broker relationships I am fortunate to have built over the years.”

Jans earned the CCIM designation, is a former Chairman of the Dallas Mortgage Bankers Association’s Commercial Lending Committee, and earned a bachelor’s degree in business administration at Saint Louis University.

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Grand Rapids, MI – January 26, 2021 – Red Oak Capital, a Michigan-based commercial real estate finance company, added Omar Limon to the firm’s growing team. Limon, who brings more than 18 years of wholesale, national account management, and sales experience, will serve as Vice President of Internal Sales. 

Limon will be based in the firm’s Orange County, California office and be responsible Red Oak Capital’s internal sales operations. That includes involvement in marketing the Red Oak Capital Fund V, a Regulation A+, Type II Bond Offering that will target real assets in strong growth markets throughout the U.S. and its territories, as well as other future Red Oak Capital investment vehicles. 

Raymond Davis, Chief Business Development Officer of Red Oak Capital, said, “Red Oak Capital continues to expand our capital raising team to support our national family of funds. It is imperative that we add experienced sales leaders like Omar, who brings a strong background managing alternative investment strategies involving private equity, real estate, Opportunity Zones, 1031 exchanges and non-traded REITs. Omar’s extensive experience working within the Independent Broker/Dealer (IBD) and Registered Investment Advisor (RIA) communities, as well as his expertise managing key accounts in commercial real estate and finance, are expected to contribute to the continued growth of Red Oak Capital.” 

Prior to joining the Red Oak Capital team, Limon served as Vice President of Sales at CM Pacific Capital, where he structured alternative investment strategies, and defined strategic marketing campaigns for the firm, as well as identified key selling partners in the IBD and RIA channels. 

Limon said, “My background collaborating with the broker-dealer community to bring strategic alternative investment opportunities to their clients is matched well with Red Oak Capital’s investment thesis. That approach is anchored on delivering institutional quality underwriting to secure commercial real estate assets in key U.S. markets with top quality and highly experienced sponsors.”

Limon started in commercial real estate and sales in 2003. His experience in the industry includes past roles at Participant Capital, Shopoff Realty Investments, Griffin Capital Securities, and Grubb & Ellis Capital Corporation. A few of Limon’s career highlights include establishing new and current advisor relationships across the Southwest region, as well as working with external wholesalers to cultivate, support, and build relationships with investment advisors who specialize in private placements nationally. 

Limon received a bachelor’s degree in business administration with an emphasis in business finance from California State University Long Beach.

Grand Rapids, MI – January 14, 2021 – Red Oak Financial, a Michigan-based commercial real estate finance company, added David K. Christensen to the firm’s growing team. Christensen, who brings more than 35 years of commercial mortgage experience encompassing a range of refinance, construction, acquisition, mezzanine debt and joint venture equity activity, will serve as Regional Manager, Northwest. He will be based in San Francisco.

Red Oak’s Gary Bechtel said, “David is a perfect fit for the Red Oak team as we expand our platform nationally. His experience and skill sets align well with our strategy of uncovering quality lending opportunities that deliver attractive yields due to the dislocation the marketplace is experiencing today. He brings over three decades of commercial real estate industry knowledge and deal making that spans market expansions, as well as contractions, such as the one we’re currently experiencing.”

Christensen’s deep experience as a lender, as well as his broad-based commercial finance industry contacts and insights will contribute to the continued growth of Red Oak’s capital markets team, while providing critical intelligence to complex transactions. An example of his deal making capability in challenging times was the recent closing of a $21.7-million, two-year bridge loan that was executed in three weeks.

Prior to joining Red Oak, Christensen most recently served as the Northwest Regional Director for Money360, where he expanded mortgage broker relationships and originated loans across the U.S. for the company. Prior to that, Christensen served at Berkadia as Vice President, Mortgage Banking for the firm in its San Francisco office. 

Christensen said, “Under Gary Bechtel’s leadership, Red Oak is positioned to become a market leader in the bridge lending space. Gary has been successful in all of his past endeavors and I look forward to helping in the growing of this platform “

Christensen started in the commercial real estate industry in the 1980’s with Alison Company. After establishing himself, he served 10 years at MassMutual as a lender, expanding the company’s platform in the Western U.S and overseeing its loan syndication group. Christensen’s experience in the industry also includes roles at companies such as Jones Lang Lasalle, Grubb & Ellis Company, and HSH Nordbank. 

His responsibilities at Red Oak will include leading commercial real estate loan origination efforts for the firm’s bridge lending programs, encompassing deal analysis, underwriting, as well as structured financing. Christensen will also serve as a valuable resource for note sales, acquisitions and syndications, as well as strategic marketing to other capital providers. 

He earned a bachelor’s degree in marketing at Chapman University and also earned the CCIM designation.

Grand Rapids, MI – January 12, 2021 – Red Oak Financial, a Michigan-based commercial real estate finance company, funded a $2,812,500 loan for Hunt Manor, a 15-unit apartment community in Washington, D.C.’s Deanwood community. The financing was used to acquire the asset and provide capital improvements that encompassed the conversion of market-rate apartments to affordable housing as part of the District of Columbia Housing Authority’s (DCHA) Housing Voucher Program.

Red Oak’s Gary Bechtel said, “The financing allowed renovations to be completed as part of the government-paid and guaranteed Housing Voucher program that currently has a waiting list exceeding 10,500 people. Deploying capital into deals that deliver a benefit to the overall community is an easy decision for us to make, since this loan involved a conversion of apartments into affordable housing.”

The financing was structured as a 12-month term, with a full return of capital expected within 6-12 months based on the borrower’s previous projects. The sponsor is a repeat borrower and already owns more than 20 multifamily properties in and around the D.C. area. This financing is part of Red Oak’s ESG (Environmental, Social, and Corporate Governance) initiatives that seek to support real estate opportunities that fit ESG guidelines.

Renovations to the property included a full interior rehab, exterior paint and landscaping and each unit receiving its own washer/dryer, water tank and HVAC systems. The revitalization helped bring the property to 100% leased in four months.

The property was constructed in 1951 and consists of a building on a half-acre site at 4400 Hunt Place NE, Washington, D.C. The unit mix includes floorplans of just three-bedrooms/one-baths, with residences averaging 660 square feet in size. The community is located near transportation, job centers, parks, schools and shopping.

Bechtel added, “Red Oak was attracted to this opportunity because the sponsor already has a sizeable portfolio in the area and brought a demonstrated expertise for revitalizing multifamily assets in the area.”

Grand Rapids, MI – January 19, 2021 – Red Oak Financial, a Michigan-based commercial real estate finance company, funded a nearly $3 million loan to acquire and renovate the Chesapeake Apartments, a 14-unit apartment community in Washington, D.C. The community is located at 400 Chesapeake SE, in an area where the sponsor already owns more than 20 multifamily properties.

The financing was structured as fixed-rate bridge loan with a 12-month term, with a full return of capital in 6-12 months based on the sponsor’s previous projects and is targeting an IRR exceeding 17%. The financing was used to acquire the asset and provide capital improvements that encompass the conversion of market-rate apartments to affordable housing. 

This financing is part of Red Oak’s ESG (Environmental, Social, and Corporate Governance) initiatives. Renovations to the property include converting the existing units into 16-units of three-bedroom housing for the District of Columbia Housing Authority’s (DCHA) Housing Voucher Program. The improvements are expected to bring the appraisal value post-conversion to $4.4 million. 

Red Oak’s Gary Bechtel said, “Red Oak is supportive of efforts to create more affordable housing in the D.C. Metro market as well as other similar markets around the country. This is a borrower for whom we have closed multiple transactions and we are confident in their ability to expand the asset via a conversion to three-bedrooms, which will qualify Chesapeake Apartments for DCHA’s Housing Voucher program that currently has a waiting list exceeding 10,500 people.”

Red Oak’s Ray Davis said, “Red Oak is actively looking for real estate lending opportunities that fit ESG guidelines. We are new to incorporating ESG initiatives, however we are excited to do more and believe it’s our responsibility as a successful company.”

The property was constructed in 1952 and consists of one building on a .12-acre site. The unit mix includes floorplans ranging from two to three bedrooms, with residences averaging 700 square feet in size. The property is located near transportation, job centers, parks, schools and shopping.

Grand Rapids, MI – January 6, 2021 – Red Oak Financial, a Michigan-based commercial real estate finance company, funded a loan to Moceri Companies and 400 Monroe Associates for the acquisition of the iconic UAW-GM Center for Human Resources in Detroit. The 18-acre, mixed-use campus contains 420,000 square feet of space along the Detroit Riverfront. 

Red Oak’s Gary Bechtel said, “We were attracted to this opportunity in Detroit because it checks all the boxes we seek when funding loans to achieve attractive, risk-adjusted returns. That includes a strong sponsor we are confident can elevate this iconic asset to its fullest potential, and a market that is experiencing a transformation through urban revitalization efforts. Red Oak is thrilled to contribute to the continued renaissance of Detroit.”

The campus delivers panoramic views, first-class amenities and is one of the most visible buildings situated along the scenic waterfront. The world-class building is a multi-use campus with office space, technical training areas, full-service dining, a state-of-the-art auditorium, fitness center, conference center, outdoor terraces, views of the Detroit River and a 900-vehicle underground garage. 

Moceri’s Dominic J. Moceri said, "The Red Oak leadership was immediately responsive. Within hours they vetted the information given and within a day had visited the collateral. From the start of Sunday evening and by the end of the week, we had an executed term sheet. In less than three weeks, we closed the transaction. Everyone at Red Oak was in lockstep with the sponsor. If we needed clarification on a specific underwriting concern it was cleared up in minutes. Kevin Kennedy teed up the deal, Joe Elias underwrote the deal and smoothed out all the wrinkles, and Dave Christensen christened the deal."

400 Monroe Associates’ Executive Member Christos Moisides added, “We believe this property will provide a creative, inspiring and safe environment for a single or collaborative user. With panoramic views and first-class amenities, we see this property beyond business, learning or municipal use, but as an entertainment complex to host premium events showcasing the glorious Detroit Riverfront and our International waterway.” 

The $21.7-million, two-year bridge loan includes features such as an 8.00% interest rate, on an interest-only basis. The loan lends itself to participation with insurance companies or other private lenders. The loan will be serviced by Red Oak.

Since 2015, Red Oak has closed loans totaling nearly $200 million in loan volume. Bechtel said of the activity, “While lenders continue to adjust to the dislocation being experienced in the market, we believe it is an advantageous time to place loans on the books. As a result of contraction in the traditional lending markets, Red Oak is unearthing opportunities with high quality borrowers involving attractive assets in key markets.”