SITUATION:
An experienced local Sponsor required financing to execute the refinancing and renovation of a 25k SF flex office/industrial building located in Golden, CO. The Sponsor required immediate execution due to executed leases with tenants to occupy the completed space.
SOLUTION:
Bloomfield Capital was retained to provide a senior bridge loan on the property, with proceeds facilitating the refinance and renovation of the building.
The Sponsor originally acquired the property in 2020 and commenced interior demolition immediately thereafter. Bloomfield’s bridge loan will allow for the completion of the renovations and conversion of the building to multi-tenant occupancy. Simultaneously with the closing of the refinance, the Sponsor acquired a nearby business that will vacate its existing space to occupy a portion of the subject property.
Bloomfield was able to swiftly underwrite the sponsor’s renovation budget as well as the asset’s historical and projected operating performance. The Sponsor plans to refinance Bloomfield’s bridge loan with a loan from the Small Business Administration upon completion of the renovations.
HOW CAN WE HELP YOU?
When you are faced with these types of uncommon, urgent-to-close situations that require debt or equity between $3-30 million, there’s no group more experienced to handle them than the team at Bloomfield Capital.
In the 14 years we’ve been serving the commercial real estate community, we’ve funded over $1 billion of these types of complex, time-constrained capital requests. With us, you can have complete confidence that your important project is in experienced, tactical and confident hands.
Bloomfield Capital Contact:
Brent Truscott
Partner
248-745-1700
btruscott@bloomfieldcapital.com
www.bloomfieldcapital.com
