Bloomfield capital announced the closing of a $20,000,000 senior bridge loan to refinance an existing 350,000 SF industrial building in suburban Albuquerque, NM. The Sponsor, an experienced commercial real estate owner/operator, will use the fixed rate bridge loan proceeds to refinance and an existing loan, and to pay for a portion of a new acquisition and development of a nearby mixed-use project.
“The demand for industrial buildings in sunbelt states continues to grow and finding well located industrial properties of this size and quality has become increasingly difficult” stated Renee Lewis, a Partner at Bloomfield Capital. “Our Sponsor was in need of a lender that could underwrite their business plan and act swiftly when time was of the essence” Lewis added
The Sponsor plans to refinance Bloomfield’s senior bridge loan with permanent financing during the next 12 to 24 months upon the stabilization of the rent roll as month-to-month tenants are converted to longer term leases and excess land is sold off for additional development.
HOW CAN WE HELP YOU?
When you are faced with these types of uncommon, urgent-to-close situations that
require debt or equity between $3-30 million, there’s no group more experienced to
handle them than the team at Bloomfield Capital.
In the 14 years we’ve been serving the commercial real estate community, we’ve funded
over $1 billion of these types of complex, time-constrained capital requests. With us,
you can have complete confidence that your important project is in experienced, tactical
and confident hands.
Bloomfield Capital Contact:
Brent Truscott
Partner
877-690-7111
btruscott@bloomfieldcapital.com
www.bloomfieldcapital.com
