Bloomfield Capital is pleased to announce the closing of a $26.0 million senior bridge loan on 90,000 SF of creative office space in Los Angeles. The proceeds were used to refinance the existing loan, and to provide necessary capital for renovations and leasing commissions.
The sponsor, an experienced commercial real estate owner and operator, purchased the assets over the past several years and has successfully entitled and leased several of the properties for creative office use.
“Bloomfield Capital continues to seek out and finance best in class sponsors and operators across all asset types”, stated Brent Truscott, a partner at Bloomfield Capital. “Current market conditions are creating opportunities to provide capital for opportunistic projects where banks are not able to move swiftly enough to meet fast moving project deadlines”, Truscott added.
The Sponsor plans to refinance Bloomfield’s bridge loan with conventional financing 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
