Red Oak Provides $10.2M Loan for Acquisition, Renovation of Apartment Community Near Birmingham

FAIRFIELD, ALA. — Red Oak Capital Holdings LLC has provided a $10.2 million bridge loan for the $3.5 million acquisition and $6.6 million repositioning of Chateau Glen Oaks Apartments, a 230-unit, garden-style community located in Fairfield, a suburb of Birmingham. Chris Litzler of Marcus & Millichap arranged the financing on behalf of the borrower, an entity doing business as Fairfax Holdings LLC. Stratos Athanassiades, Thomas Gorski and James Myatt of Red Oak originated the non-recourse loan,