Bloomfield Capital is pleased to announce the closing of a $16.0 million senior bridge loan which was used to refinance the debt and complete construction on a shallow bay industrial property located in Dallas, TX.
The senior bridge loan refinanced a matured bank loan, which was originally used to construct the property.
“Bloomfield was able to quickly close this senior bridge loan before the property was fully stabilized”, stated Jason Jarjosa, a Partner at Bloomfield Capital. “We continue to see strong demand for shallow bay industrial, especially in the Southwest, where there is a lack of flexible, class A space like the Sponsor is delivering here”, Jarjosa added.
Bloomfield’s loan is expected to be repaid through conventional financing in 6-12 months once the property is fully stabilized.
About Bloomfield Capital
Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, Denver, Chicago, Portland, and NYC, 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 $3-30 million in the form of bridge loans, mezzanine loans, and preferred equity investments.
For more news and information, or to contact us, please visit www.bloomfieldcapital.com.
Bloomfield Capital Contact:
Brent Truscott
Partner
877-690-7111
btruscott@bloomfieldcapital.com
www.bloomfieldcapital.com
