Bloomfield Capital Provides $11.0 Million Senior Bridge Loan on Maryland Hotel

 

Bloomfield Capital is pleased to announce the closing of an $11.0 million senior bridge loan on a select-service hospitality property located in greater Baltimore, MD.

The loan was used to refinance a maturing bank construction loan on the nearly stabilized asset. While the property qualified for conventional financing, the Sponsor requested a bridge loan to further season the asset until they seek permanent financing.

“Our Sponsor sought a balance sheet lender that could provide a short-term bridge loan in a time compressed situation”, stated Renee Lewis, a partner at Bloomfield Capital.

Bloomfield’s loan is expected to be repaid through a refinance of the property in the next 12-18 months.

 

 

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

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