Bloomfield Capital, a national direct lender and equity investor, has announced the closing of a $7.5 million senior bridge loan secured by a self-storage facility located in Naples, FL.
Located along a main highway in Southwest Florida, the site is situated within close proximity to the retail and residential areas of Naples. Bloomfield’s loan proceeds will be used to finish construction on the partially completed asset after a regional bank was not able to timely close a construction loan for the project.
The Sponsor plans use a national self-storage company to lease and manage the property once construction is completed, and is already working on a permanent loan solution with several conventional lenders.
“Bloomfield Capital was attracted to this opportunity as it is one of the last available parcels for self-storage development in this submarket and is under the control of a proven, local developer,” stated Jason Jarjosa, Managing Partner at Bloomfield Capital. “Given the rapid growth in the Naples market, the City has recently enacted moratoriums on new self-storage development, which will only increase the value of this well-located property”, Jarjosa added.
About Bloomfield Capital
Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, New York, Los Angeles, Denver, Chicago, and Portland, 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 $2-20 million in the form of bridge loans, mezzanine loans and preferred equity investments.
Bloomfield Capital Contact:
Brent Truscott
Partner
248-745-1700
btruscott@bloomfieldcapital.com
www.bloomfieldcapital.com
