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**Red Oak Capital Funds $3.8M Bridge Loan for Historic DC Multifamily Acquisition and Renovation**
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%.
The transaction was originated by Red Oak Regional Manager Nick Jans, underwritten by Thomas Gorski, and administered by James Myatt. The borrower, East Capitol 819, LLC—an affiliate of Claggion Capital Holdings—is a Northern Virginia-based investment group focused on repositioning residential properties throughout the Washington, D.C. metropolitan area.
Originally built in 1939, The Wiltshire Apartments is a three-story, 11,700-square-foot building offering a mix of one-, two-, and three-bedroom units. Planned renovations include updated kitchens and bathrooms, installation of new fixtures, electrical and roofing upgrades, new hallway flooring, enhanced landscaping, and selected interior reconfigurations to add bedrooms.
This deal highlights Red Oak Capital Holdings’ ongoing efforts to support value-add and repositioning strategies in core urban markets.
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