SITUATION:
Bloomfield Capital, a national direct lender and equity investor, has announced the closing of a $4.0 million senior bridge loan in Denver, CO. The loan is secured by a 9.0-acre site improved with two industrial buildings that are occupied by the Sponsor’s operating business. Bloomfield’s loan will be used to refinance an existing loan and to fund the expansion of the Sponsor’s waste hauling and recycling business.
Located north of the Denver CBD, the property has visibility from and exposure to I-76 and provides access to the numerous interstates in this area of Denver, including Interstate 76, Interstate 25, Interstate 270 and Interstate 70. In recent years, the Sponsor has consolidated local operations to this strategic location and is now working to expand in other markets.
SOLUTION:
The Sponsor began occupying the site in 2014 as a tenant and then purchased the property in 2017. As their operating business has grown, they have opened locations in other markets, increased rolling stock, and expanded the logistics and software portions of the business. Bloomfield’s senior bridge loan will allow that expansion to continue by facilitating equipment acquisitions and software technology development.
“Given the low vacancy and high demand for urban industrial sites such as this, we are excited to provide capital to a strong and expanding company in a top 25 industrial market like Denver,” stated Renee Lewis, Managing Partner at Bloomfield Capital. “Our track record of financing industrial properties in Denver gave our Sponsor comfort that we could fund this time-compressed transaction when certainty of execution was paramount”, Lewis added.
HOW CAN WE HELP YOU?
When you’re faced with these types of uncommon, urgent-to-close situations that require bridge loans between $2-20 million, there’s no one more experienced to handle them than the team at Bloomfield Capital. In the 12 years we’ve been serving the commercial real estate community, we’ve funded over $1 billion of complex and time-constrained transactions. With us, you can have complete confidence that your important project is in experienced, tactical and confident hands.
Bloomfield Capital Contact:
Brent Truscott
Partner
248-745-1700
btruscott@bloomfieldcapital.com
www.bloomfieldcapital.com
