Red Oak Capital Holdings, LLC, a leading provider of private capital solutions for commercial real estate, has provided a $2.8-million bridge loan for the renovation and stabilization of 551 Albany Apartments, an eight-unit multifamily property located in the East Flatbush neighborhood of Brooklyn.

Provided under Red Oak’s Opportunistic Bridge Loan Program, the non-recourse, interest-only loan is structured with a 1-year initial term and a loan-to-stabilized value (LTSV) of 64.20%. The transaction was originated by Red Oak Regional Manager Stratos Athanassiades, underwritten by Thomas Gorski, and administered by James Myatt.