In September 2019, RRA Capital funded a $5.5M bridge loan for a acquisition of a mixed-use commercial property in Reno, NV. The subject property is a three-story building. Two retail spaces occupy the 1st floor, with two floors of office space above, and a basement/lower level below. The Sponsor plans to improve the property by installing additional windows, renovating the lobby, and completing “white box” improvements to the interior spaces. The property was 69% occupied at the time of funding. As a repeat borrower, the sponsor was familiar with RRA Capital's process and was looking for similar execution. RRA was able to provide a 36-month interest-only loan, with two 12-month extensions, and closed within 30 days. Additionally, RRA’s loan structure provided funds for anticipated capital expenditures and leasing costs. As with all of our bridge loans, a personal guarantee was not required.