Red Oak Fund Receives Investment Grade Rating from Egan-Jones
Red Oak Capital Intermediate Income Fund, a $50 million Regulation A+ Tier II bond offering, has been assigned an investment grade credit rating.
Red Oak Capital Intermediate Income Fund, a $50 million Regulation A+ Tier II bond offering, has been assigned an investment grade credit rating of “BBB+” from Egan-Jones Ratings Company, an independent rating agency.
“We’re thrilled to earn this achievement because it means our first rated fund is now an even more attractive alternative investment option to consider,” said Raymond Davis, chief business development officer of Red Oak Capital Holdings. “Egan-Jones’ rating means an independent agency has placed confidence in Red Oak and our team’s ability to perform despite the market conditions.”
Davis also noted that the fund received its first verbal commitment from “a southeastern insurance company” that is expected to close by the end of January.
Red Oak said that it is currently sourcing more than $300 million in new deal flow per month, which the company claims will enable it to be “highly selective” when funding value-add commercial real estate properties across the U.S.
Egan-Jones is a statistical ratings organization recognized by the National Association of Insurance Commissioners as a credit rating provider and is certified by the European Securities and Markets Authority. A credit rating is not a recommendation to buy, sell or hold securities.
Red Oak Capital Holdings, LLC is a family of commercial real estate finance and investment companies that includes Red Oak Financial, Red Oak Holdings Management, and Red Oak Capital, GP. The company was formed in September 2015 as a predecessor company to a 30-year licensed lender.
