$3,200,000 Senior Bridge Loan Secured by Colorado Warehouse
Bloomfield Capital, a national direct lender and equity investor has announced the closing of a $3.2 million senior bridge loan in greater Denver, Colorado. Bloomfield has been actively funding commercial real estate loans across the country since 2008 and considers the high growth e-commerce market as a key driver for continued investment in industrial warehouse properties.
The loan proceeds were used to refinance a maturing bank loan on this well-located flex warehouse property. Bloomfield was able to deliver the necessary capital while the sponsor prepared for a longer-term financing solution on the asset. The sponsor, who operates a multifaceted marketing and distribution business, was not in a position to obtain a conventional loan because the multi-tenant property was not fully stabilized.
“Bloomfield’s loan funded the capital necessary to refinance an existing loan while giving the sponsor the flexibility to prepay the senior bridge loan without incurring any penalties” stated Brent Truscott, a principal at Bloomfield Capital. “The sponsor was very focused on their operating business and relied on Bloomfield to understand and fund this complex transaction. This loan represents our typical bridge capital transaction where immediate action and principal level attention are required to execute on a unique situation in a time compressed manner” Truscott added.