Bloomfield Capital is pleased to announce the closing of a $7.0 million senior bridge loan which was used to purchase 2 industrial outdoor storage (“IOS”) locations located in Metro Detroit, MI. The Sponsor uses the properties for overnight truck storage and repair for their fleet of vehicles.
“Bloomfield was able to finance these two properties while meeting the buyer’s tight closing timeline”, stated Renee Lewis, a Partner at Bloomfield Capital. “As the banks have tightened their lending standards, we continue to find opportunities to finance owner occupied industrial real estate. Our balance sheet capital allows for fast execution and flexible terms”, Lewis added.
Bloomfield’s loan is expected to be repaid through conventional financing within 6 – 12 months.
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
