Bloomfield Capital is pleased to announce the closing of an $11.5 million senior bridge loan on an industrial property located in Phoenix, AZ. The Arizona-based Sponsor plans to redevelop the site to best optimize its versatile capabilities, including significant land zoned for industrial outdoor storage and truck parking.
“Bloomfield was able to finance the acquisition of the property while meeting the buyer’s tight closing timeline”, stated Brent Truscott, Partner at Bloomfield Capital. “As the banks have tightened their lending standards, we continue to find opportunities to finance transitional assets so long as their value is supported by strong, local market fundamentals. Our balance sheet capital allows for fast execution and flexible terms.”
Bloomfield’s loan is expected to be repaid through conventional financing, or by a sale of the collateral, within 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
