Crittenden Real Estate Finance Conference- Miami, FL
Bloomfield Capital will be sponsoring the 2017 Crittenden Real Estate Finance Conference in Miami, FL on September 13th-15th. To set up a meeting during the event to discuss commercial property bridge loans or equity investments, please call 248-745-1700.
For more information, or to register, please visit the Crittenden Website.
$3,200,000 Senior Bridge Loan Secured By Nashville Retail Asset
July 2017-Bloomfield Capital, a national direct lender and equity provider, has announced the closing of a $3.2 million senior bridge loan. The loan proceeds were used to refinance and complete renovations on a 30,000 SF retail center located in greater Nashville, TN. According to estimates from the U.S. Census Bureau, the population in Nashville grew by an average of 100 people per day in 2016, creating a strong demand for new retail development.
The sponsor, a local real estate development firm, purchased the former single-tenant asset as REO from a bank and converted it to a multi-tenant retail property. Bloomfield’s loan proceeds refinanced a prior lender and provided the tenant improvement dollars necessary to finish the interior build-out. Multiple tenants have already signed leases on the space and are waiting to occupy the well-located retail asset.
“Bloomfield’s loan will fund the capital necessary to complete renovations at the property and bring it to full occupancy,” stated Dennis Onabajo, a Vice President at Bloomfield Capital. Onabajo also added, “Our flexible bridge capital allowed for a generous tenant improvement package at the property, which has attracted strong local and regional tenants. After a short seasoning period, the sponsor plans to refinance our loan with conventional bank debt and hold the asset on its balance sheet for the foreseeable future.”
Since 2008, Bloomfield Capital has funded debt and equity investments in expanding MSAs including Nashville, Denver, Atlanta, and Houston. As a direct lender and investor, the firm has the ability to fund unique deals with urgent closing timelines.
Bloomfield Capital Continues its Expansion to the East Coast
June 2017– Bloomfield Capital, a specialty real estate finance firm with offices in Detroit, Chicago, and Denver, is pleased to announce the addition of an East Coast office and two new hires to the firm. New to Bloomfield’s senior team are Dennis Onabajo as Vice President and Anthony Marsala as Senior Associate.
As Vice President, Mr. Onabajo will be responsible for originating new opportunistic commercial real estate equity and debt investments and establishing the firm’s office on the East Coast. He joins Bloomfield Capital after 6 years at Fortress Investment Group, a $70 billion diversified global investment manager, where he focused on investing in opportunistic debt and equity real estate transactions. Mr. Onabajo holds a Master’s of Science in Applied Economics from Southern Methodist University.
Joining Bloomfield from Apollo Global Management in New York City, Mr. Marsala will be acting as the firm’s Senior Associate, evaluating and underwriting unique real estate opportunities nationwide. At Apollo, he was part of the US Performing Credit group, where he focused on syndicated leveraged loan transactions within the healthcare space. He is a graduate of Michigan State University where he received a Bachelor’s of Arts in finance. Mr. Marsala is an alumnus of the Michigan State Financial Markets Institute and continues to mentor the program’s undergraduate scholars in their pursuit of careers in the capital markets.
“The decision to open an office on the East Coast was a logical step in our desire to seek out high quality, opportunistic debt, and equity opportunities nationwide”, says Nicholas Coburn, Partner and Founder of Bloomfield Capital. “We’re excited to be joined by Dennis and Anthony and the depth of experience they bring with them to Bloomfield.”