RRA Capital is a direct commercial real estate bridge lender and investment firm. The company finances value-add commercial and multifamily real estate with flexible bridge and intermediate-term loans with a focus on adapting the loans to fit the sponsor’s needs.
Bringing deep experience in the commercial real estate market, RRA Capital has originated and managed over $900 million in commercial real estate bridge loans across the U.S.
High-Level Lending Parameters
Loan Amounts: $2-20 million for core bridge and high-LTV bridge, $500,000 – $3 million for mezzanine/preferred equity
Loan-to-Value: 70% core bridge, 85% high-LTV bridge and mezzanine/preferred equity
Lending Terms: 12 to 60 months
Interest Rate: Starting floor rate for core bridge is 4.95%, 6.95% high-LTV bridge, and 12.95% mezzanine/preferred equity
Asset Classes: All major commercial projects, including mixed-use and special purpose
- Hotel-to-Apartment Conversion: RRA Capital financed the conversion of a hotel to apartment building in Bloomington, Indiana with a $5.5 million, non-recourse, 36-month interest-only loan, including 12-month extension options. The loan will fund all budgeted capital improvements, as well as interest reserves during construction.
- Multifamily Apartment Complex: RRA Capital financed a $11.437 million non-recourse, 36-month interest-only bridge loan for a multifamily building in Jacksonville, Florida. The building is currently 60% occupied with 194 units divided across three 14-story buildings. The sponsor plans to use the capital to renovate the exterior and improve the interior, with the ultimate goal of bringing rents and occupancy rates in line with the market.
- Mobile Home: RRA Capital recently funded a $3.2 million non-recourse, interest-only loan, with a 24-month initial term and two, 6-month extensions for a mobile home park near Raleigh-Durham, North Carolina. The 19-acre community is currently 97% leased, with the mobile homes placed across 101 pad sites. The sponsor plans to make a variety of site-wide and individual exterior improvements for each home, which will help bring rents up to market rates.