Bloomfield Capital is pleased to announce the closing of a $3.3 million senior bridge loan which was used to refinance a manufacturing property located in greater Grand Rapids, MI.
The senior bridge loan refinanced the maturing bank loan, which was originally used to construct the property. The building was custom built for the Sponsor’s automotive and home-goods manufacturing business.
“Bloomfield was able to quickly underwrite and close this senior bridge loan while the Sponsor was in growth mode and traditional lenders could not react in a timely fashion”, stated Brent Truscott, a partner at Bloomfield Capital.
The Sponsor plans to refinance Bloomfield’s bridge loan with conventional financing in the next 12-18 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
