Red Oak Capital Provides $7.7M Acquisition Loan for Multifamily Community in Memphis

MEMPHIS, TENN. — Red Oak Capital Holdings has provided a $7.7 million loan for the acquisition and repositioning of Valley Forge Apartments, a 229-unit multifamily community located at 176 Hillview Ave. in Memphis. Valley Forge features 26 garden-style buildings comprising 171 two-bedroom units, 57 three-bedroom apartments and one one-bedroom unit across 15 acres. The property was 95.6 percent occupied at the time of financing. The borrower, I Real Estate and Allstate Property Management, plans