Small-Balance Bridge Lender Eyes Second Funding Vehicle

Red Oak Capital Group, a three-year-old alternative lender specializing in the small- to middle-market space, is gearing up to raise its second investment vehicle. The Grand Rapids, Mich., company writes bridge loans of $500,000 to $3 million against most major property types across the country. It pursues loans that, for one reason or another, wouldn't fit a bank's lending parameters.

Commercial Real Estate Direct Staff Report

Red Oak Capital Group, a three-year-old alternative lender specializing in the small- to middle-market space, is gearing up to raise its second investment vehicle.

The Grand Rapids, Mich., lender is affiliated with Northwind Financial Corp., a brokerage and advisory firm founded and led by Chip Cummings.

The company had been originating loans, sourced by its Northwind affiliate, that would be funded by investor partners and a couple of years ago decided to raise its own capital.

It had raised $5 million for its first fund, Red Oak Capital Fund, which last year provided its investors with an 11.7 percent net yield. It's now gearing up to raise what it hopes will be up to $50 million for a follow-up fund. It's lining up broker-dealers and expects the fund will be offered to investors subject to Regulation A+, an SEC rule that's part of the Jumpstart Our Business...

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Data Digest

CMBS DELINQUENCY VOLUME

CMBS SPECIAL SERVICING VOLUME

Top Bookrunners Domestic, Private-Label CMBS - 2017
Investment Bank	#Deals	Vol$mln	MktShr%
Goldman Sachs	17.59	11,819.34	13.68
JPMorgan Securities	14.52	10,968.11	12.70
Citigroup	12.04	10,012.71	11.59
Wells Fargo Securities	14.02	9,936.06	11.50
Deutsche Bank	12.55	9,879.74	11.44

RCA CPPI

CMBS 2.0 Spreads

Top CMBS Loan Contributors - 2017
Lender	#Loans	Vol$mln	MktShr%
Goldman Sachs	146.89	11,719.34	13.63
JPMorgan Chase Bank	117.68	10,114.14	11.76
Deutsche Bank	198.48	9,689.97	11.27
Morgan Stanley	166.18	8,539.78	9.93
Citigroup	199.05	8,088.24	9.41

REITCafe

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