ACCESS Newswire
18 Nov 2023, 00:47 GMT+10
BIRMINGHAM, MI / ACCESSWIRE / November 17, 2023 / Bloomfield Capital announces the closing of a $26.0 million senior bridge loan, which was used to refinance a portfolio of commercial assets located in the greater Los Angeles area.
The sponsor, an experienced commercial real estate owner and operator, purchased the assets over the past several years and has successfully entitled and leased several of the properties for creative office use. The loan includes the funds necessary for future renovations and leasing commissions.
'Bloomfield Capital continues to seek out and finance best-in-class sponsors and operators across all asset types,' stated Brent Truscott, a partner at Bloomfield Capital. 'Current market conditions are creating opportunities to provide capital for opportunistic projects where banks are not able to move swiftly enough to meet fast-moving project deadlines,' Truscott added.
The Sponsor plans to refinance Bloomfield's bridge loan with conventional financing in the next 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.
Contact Information
Brent Truscott
Partner
[email protected]
877-690-7111
SOURCE: Bloomfield Capital
Get a daily dose of Haiti Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Haiti Sun.
More InformationEVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...