Place the warm water in the bowl of your stand mixer. Stir in the yeast and let sit for 5 minutes.
Add the warm milk, ¼ cup sugar, 4 tbsp butter, and salt. Use the paddle attachment on medium speed to mix everything together. Slowly add in the flour and mix until the dough no longer clings to the side of the bowl. If it's too sticky, add a little more flour. If too dry, add a little more milk. Remove the paddle attachment and use your hands to form the dough into a ball. Place back in the bowl.
Add the dough attachment to the mixer and knead the dough on medium speed for 6 to 7 minutes, until the dough is soft and elastic. It's okay if it's not completely smooth. Remove the dough and use your hands to keep it shaped into a ball.
Place in a greased bowl and turn to coat the dough all over. Cover with plastic wrap and place in a warm, non-drafty area until the dough doubles in size, anywhere from 1½ to 2½ hours.
Once risen, remove the dough from the bowl and transfer it to a lightly floured surface. Roll the dough out to a 9"x9" square.
In a small bowl, combine the remaining sugar (¼ cup), cinnamon, and raisins. Mix together.
Sprinkle the cinnamon raisin mixture over the dough, leaving a ½-inch border around all sides. Roll the dough into a log and seal the ends with your fingers.
Spray a 9"x5" loaf pan with cooking spray or grease with softened butter. Place the rolled dough in the pan and cover with a kitchen towel. Place again in a warm, non-drafty area to rise again, about 1 hour to 90 minutes.
Preheat oven to 350°F.
Melt 2 tbsp butter and brush over the top of the loaf.
Bake for 35 to 40 minutes, until the dough is golden brown and the bread sounds hollow when you tap it with your knuckles. Allow the bread to rest for about 10 minutes on a baking rack. Invert the pan to remove the loaf. Slice and serve at once, or wrap in plastic wrap to serve later.