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- RRA Capital Closes $27M Loan for North Carolina Multifamily Acquisition
RRA Capital Closes $27M Loan for North Carolina Multifamily Acquisition
Slice of Real Estate Team
October 18, 2024
Key Highlights:
$27M loan for a four-property, 384-unit portfolio in North Carolina.
Partnership with Emerald City Associates; closed $62M across seven loans in five months.
Portfolio includes properties in High Point, Greensboro, and Shelby, NC.
RRA Capital financing to support strategic renovations and operational improvements.
Source: Business Wire
Notable Quote:
“Their ability to identify underperforming assets, negotiate competitive purchase prices, and execute swift value-add strategies makes them a strong partner in today’s market.”
Our Take:
This transaction represents a significant step for both RRA Capital and Emerald City Associates as they continue to build their portfolio of underperforming multifamily properties in the Southeast. The deal highlights the strength of their partnership, with RRA Capital providing the financial leverage needed to unlock potential value through ECA’s proven approach to asset repositioning. This kind of collaboration signals strong investor confidence in value-add strategies, particularly in emerging markets like North Carolina.