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Bloomfield Capital

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Bloomfield Capital Provides $12.0 Million Senior Bridge Loan Secured by a Limited-Service Hotel in Washington State

Bloomfield Capital, a national direct lender and equity investor has announced the closing of a $12.0 million senior bridge loan in Washington State. The loan is secured by a Marriott limited-service hotel.

The hotel was in the middle of construction when the prior lender failed to make timely loan disbursements. Bloomfield provided a new senior bridge loan, recapitalizing the project, addressing existing liens and funding construction and interest reserves.

The Sponsor, an experienced hospitality owner, manager and developer, was able to continue construction due to the expediency and flexibility of Bloomfield’s senior bridge loan. The loan will afford the Sponsor the time needed to complete construction, purchase remaining FF&E, and stabilize the asset before refinancing with a permanent debt facility.

“Bloomfield Capital has a long history in the hospitality space and this transaction builds upon our reputation as a dependable capital source for complex transactions”, stated Renee Lewis, Managing Partner at Bloomfield Capital. “Though there were many title, construction, and partnership considerations related to this loan, Bloomfield was able to underwrite and fund the senior bridge loan in an expedited manner“.

About Bloomfield Capital

Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, New York, Denver, Chicago, and Portland, Bloomfield Capital’s team draws from a broad base of commercial real estate and finance experience. The firm provides debt and equity solutions to meet the demands of time sensitive and complex transactions. Bloomfield Capital specializes in small to medium sized financings from $2-20 million in the form of bridge loans, mezzanine loans and preferred equity investments.

Bloomfield Capital Contact:                                        

Brent Truscott

Partner                                                                        

248-745-1700                                                              

btruscott@bloomfieldcapital.com

www.bloomfieldcapital.com

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Recent Transactions

Washington State

12,000,000

July 2018

Georgia

3,900,000

July 2018

Texas

$5,600,000

May 2018

Illinois

$6,300,000

April 2018

Indiana

$1,600,000

February 2018

Midwest

$8,900,000

January 2018

Tennessee

$8,700,000

January 2018

Indiana

$1,500,000

December 2017

Michigan

$3,200,000

December 2017

Indiana

$2,700,000

December 2017

Illinois

$5,300,000

September 2017

New Jersey

$6,000,000

June 2017

See More Closed Transactions »
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