RRA Capital successfully closed on a multi-tenant retail center in Sherwood, Oregon.

The property spans 130,000 square feet on a 14-acre site, featuring nine single-story buildings constructed between 1995 and 2002. At the time of closing, the property was already 92% leased, reflecting its desirability to tenants.

RRA Capital played a crucial role by providing a significant $25 million non-recourse loan, including $24.5 million in acquisition funding and a $500,000 follow-on facility for tenant improvements and leasing costs. This financing package supports the sponsor's plans for site work, minor capital improvements, and attracting new tenants.

With a submarket vacancy rate of 2.6% and a weighted average lease term of 5.5 years at closing, the property demonstrates strong demand and financial viability. The sponsor, with a successful track record and an impressive portfolio growth of over 5 million square feet across 60 sites since 2014, brings expertise and experience to the project.

RRA Capital remains committed to supporting strategic property acquisitions and development plans. By providing the necessary financing and support, RRA empowers sponsors to revitalize properties and foster long-term partnerships.