Red Oak Capital Holdings, LLC has closed a $3.8 million bridge loan to finance the acquisition and renovation of The Wiltshire Apartments, a 17-unit multifamily property located on East Capitol Street NE in Washington, D.C.

The financing was structured under Red Oak’s Opportunistic Bridge Loan Program. The non-recourse, interest-only package includes $3.1 million for the property’s acquisition and $500,000 designated for capital improvements. The loan carries a two-year term and a loan-to-stabilized-value ratio of 73.08%.