Bloomfield Capital announces the closing of a $5.1 million senior bridge loan, which was used to refinance 2 industrial manufacturing buildings located in Houston, TX and Metro Detroit, MI.
The Sponsor, an experienced commercial real estate operator, needed to refinance the owner-occupied real estate and better position the specialty manufacturing companies for sale. Bloomfield was able to provide a flexible senior bridge loan to refinance a maturing bank loan and fund a partial interest reserve and capital improvements to the properties.
“We have funded millions of square feet of industrial and manufacturing properties like these throughout the Country”, stated Brent Truscott, a Partner at Bloomfield Capital. “We believe that continued onshoring of specialty manufacturing will continue to drive demand for well-located assets serving the market segment, which these properties will benefit from”, Truscott added.
The Sponsor plans to execute long term leases with the tenants at the properties and refinance the Bloomfield loan with traditional bank debt.
About Bloomfield Capital
Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, Denver, Chicago, Portland, and NYC, Bloomfield Capital’s team draws from a broad base of commercial real estate and finance experience. The firm provides debt and equity solutions to meet the demands of time-sensitive and complex transactions. Bloomfield Capital specializes in small- to medium-sized financings from $3-30 million in the form of bridge loans, mezzanine loans, and preferred equity investments.
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
