SITUATION:
An experienced real estate owner and entrepreneur in the Denver area required financing to execute the purchase of a retail property located in downtown Denver. The Sponsor needed immediate execution, due to a three-week closing deadline.
SOLUTION:
Bloomfield Capital was retained to provide a senior bridge loan, with proceeds facilitating the execution of the purchase as well as providing a capital improvement reserve and an interest reserve during stabilization.
The retail property is located on 17th Avenue and well-positioned for occupancy by both restaurant and general retail tenants. The building benefits from being within walking distance to numerous high-rise office buildings and is located within a strong dining and retail neighborhood.
Bloomfield was able to gain comfort in the Sponsor’s leasing plan for the property and close this transaction within 3 weeks from the receipt of a signed term sheet. The Sponsor plans to refinance Bloomfield’s bridge loan with a conventional loan in 12-18 months and hold the property as part of a larger retail portfolio.
HOW CAN WE HELP YOU?
When you are faced with these types of uncommon, urgent-to-close situations that require debt or equity between $2-20 million, there’s no group more experienced to handle them than the team at Bloomfield Capital.
In the 13 years we’ve been serving the commercial real estate community, we’ve funded nearly $1 billion of these types of complex, time-constrained capital requests. 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
