PHOENIX, Feb. 18, 2020 /PRNewswire/ -- RRA Capital, a Phoenix-based investment manager focused on short-term commercial real estate debt, closed its first round of funds to new investors after receiving a $20M commitment in the final close. Oak Street Real Estate Capital, a Chicago-based private equity real estate firm made the investment that incorporates a $20 million commitment to RRA Capital's Credit Opportunity and Credit Income Fund I, as well as a planned commitment towards the launch of RRA Capital's successor commercial real estate debt fund launching in mid-2020. The funds target middle-market, short-term financing spanning senior position and mezzanine debt as well as preferred equity on value-add and distressed assets nationwide.
"RRA Capital is honored to have Oak Street as a partner moving forward. This partnership represents a powerful combination uniting decades of real estate investing experience and best practices that will undoubtedly deliver enhanced value for our investors," said Boots Dunlap, CEO of RRA Capital. Oak Street's Seeding and Strategic Capital platform focuses on early investments in small to mid-cap managers in the real estate equity and debt markets on behalf of a wide variety of clients, including public and corporate pension plans, endowments, insurance companies, and single/multi-family offices. "The RRA Capital team has both the breadth and depth of commercial real estate experience that we look for in top managers", said Oak Street Managing Partner, Larissa Herczeg. "We are excited to have them as a partner and for them to bring their expertise to the investing table."
About RRA Capital RRA Capital is a fully integrated, middle-market, real estate lending firm specializing in short-term structured transactions across the credit spectrum. Since 2013, it has managed over $800 million on behalf of institutional investors across three bespoke bridge credit platforms. These focus on first-position senior mortgages, mezzanine debt, and preferred equity, with an emphasis on value-add opportunities. More information can be found at www.rracapital.com.