Red Oak Capital Holdings, LLC provided a combined $10.30 million in financing for a pair of multifamily properties located in metropolitan Indianapolis.

The separate bridge loans funded the acquisition and planned renovations of the assets by the sponsor, a value-add investor with extensive experience in the local market.
 
At $8.60 million, the loan for Canterbury House Apartments in Lawrence, IN accounted for the bulk of the financing total. Structured under Red Oak’s Core-Plus Bridge Loan Program, the loan has a three-year term and an LTSV of 65.90%. Located on 5.8 acres at 7955 Kingsmead Drive, the 84% occupied community features 110 one- to four-bedroom units in seven buildings, as well as a pool, playground, and clubhouse.