Bloomfield Capital is pleased to announce the closing of a $6.7 million senior bridge loan which was used to refinance a multifamily property located in Little Rock, AR. Bloomfield’s loan provides the capital required for the Sponsor to complete the necessary improvements, enabling the property to quickly achieve market occupancy
“Bloomfield was able to refinance the property and provide the Sponsor with access to existing capital improvement reserve funds, which will allow the Sponsor to execute its business plan in an expedited manner”, stated Jason Jarjosa, Partner at Bloomfield Capital. “By tailoring a solution that included both the refinancing, as well as access to the funds for capital improvements, we have enabled the Sponsor to move forward with their value-add strategy and position the asset for long-term stability.”
Bloomfield’s loan is expected to be repaid through conventional financing once the property has been stabilized in 12 – 18 months.
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
