Trending...
- Detroit Hip-hop Takes Center Stage: Historic Official Sxsw Showcase Spotlights The City's Rising Music Economy - 131
- Training Lofts Launches $1,099 Unlimited Training Membership Featuring Semi-Private Coaching, Nutrition Support, and Recovery Services - 122
- Pastor Saeed Abedini Releases THE TRUTH – Volume 1, A Deeply Personal Story of Faith, Struggle, and Redemption - 115
$13.0 Million Senior Bridge Loan
BIRMINGHAM, Mich., Aug. 3, 2022 /PRNewswire/ -- Bloomfield Capital announces the closing of a $13.0 million senior bridge loan, which provided the capital necessary for the acquisition of two adjacent industrial buildings totaling 230,000 square feet in greater Indianapolis, IN. The Sponsor required immediate execution due to an expiring purchase option, which allowed them to acquire the property and accommodate their rapidly growing business.
The Sponsor's business has operated at a portion of the building for the last several years and it recently expanded to occupy the entire property. Bloomfield's bridge loan will allow for the Sponsor to continue the expansion of their business and execute their business plan.
"As the capital markets have continued to tighten, we have been presented with more owner-occupied buildings in need of senior bridge capital," stated Brent Truscott, a Partner at Bloomfield Capital. "Sellers are still demanding fast closings, and banks and insurance company lenders are not typically able to accommodate expedited closings, especially if the underlying tenant at the property is in expansion mode and not able to demonstrate several years of consistent cash flow. As a direct capital provider and balance sheet lender, Bloomfield Capital can provide flexibility and expediency when time is of the essence," Truscott added.
More on Michimich.com
Bloomfield was able to swiftly underwrite the Sponsor's business and understand the local industrial market in greater Indianapolis. The Sponsor plans to refinance Bloomfield's bridge loan with a loan from the SBA upon stabilization of their business operations.
About Bloomfield Capital
Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, Denver, Chicago, Los Angeles, 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
[email protected]
www.bloomfieldcapital.com
SOURCE Bloomfield Capital
BIRMINGHAM, Mich., Aug. 3, 2022 /PRNewswire/ -- Bloomfield Capital announces the closing of a $13.0 million senior bridge loan, which provided the capital necessary for the acquisition of two adjacent industrial buildings totaling 230,000 square feet in greater Indianapolis, IN. The Sponsor required immediate execution due to an expiring purchase option, which allowed them to acquire the property and accommodate their rapidly growing business.
The Sponsor's business has operated at a portion of the building for the last several years and it recently expanded to occupy the entire property. Bloomfield's bridge loan will allow for the Sponsor to continue the expansion of their business and execute their business plan.
"As the capital markets have continued to tighten, we have been presented with more owner-occupied buildings in need of senior bridge capital," stated Brent Truscott, a Partner at Bloomfield Capital. "Sellers are still demanding fast closings, and banks and insurance company lenders are not typically able to accommodate expedited closings, especially if the underlying tenant at the property is in expansion mode and not able to demonstrate several years of consistent cash flow. As a direct capital provider and balance sheet lender, Bloomfield Capital can provide flexibility and expediency when time is of the essence," Truscott added.
More on Michimich.com
- Hypnotherapy Finder Announces Official US Wide Launch After Successful Soft Launch
- Melzi Job Coach Launches on iOS and Android: A Privacy-First AI Career Engine Built for Execution
- AAACF Celebrates Repaid Impact Investments, Renewing Capital for Washtenaw County Communities
- Roofman USA Expands Michigan Coverage, Ensuring Homes Across the State Stay Protected
- Roofman USA Highlights Key Features of Energy-Efficient Roofing for Ann Arbor Homeowners
Bloomfield was able to swiftly underwrite the Sponsor's business and understand the local industrial market in greater Indianapolis. The Sponsor plans to refinance Bloomfield's bridge loan with a loan from the SBA upon stabilization of their business operations.
About Bloomfield Capital
Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, Denver, Chicago, Los Angeles, 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
[email protected]
www.bloomfieldcapital.com
SOURCE Bloomfield Capital
0 Comments
Latest on Michimich.com
- Announcing the Keynote Lineup for PLM Road Map & PDT North America 2026
- American Properties Realty, Inc. Leadership Attends NAHB International Builders' Show in Florida
- American Plastic Solutions Announces Versatile Plastic Plating Tanks and Enclosures
- Midwest Enviro Solutions Urges Homeowners & Businesses to Recognize Symptoms of Poor Indoor Air Qua
- $317M Revenue and a Clear Path to $1B: $IQST is Positioned for a Major Profitability Inflection
- Michigan Computer Supplies Shares Simple Maintenance Tips to Extend Office Printer Life & Reduce Em
- ASI Hosts 2026 Executive Business Summit for Global Partner Community
- Pastor Saeed Abedini Releases THE TRUTH – Volume 1, A Deeply Personal Story of Faith, Struggle, and Redemption
- New Book Warring From the Standpoint of the Throne Room Calls Believers to Pray From Victory
- Scotch Whisky Market Dislocation Creates Compelling Entry Opportunity for Long-Term Investors
- Peccioli Becomes New Orleans: In July 2026, the magic of jazz comes to Tuscany
- Michigan Debt Collection Agency Helps Businesses Create Airtight Credit Policies
- Michigan Collection Services Firm Describes Different Types of Defendants
- Howell-Based Professional Lawn Care Starts Crabgrass Prevention!
- Local Saline DJ Expands Services to Greater Grand Rapids Area
- $6 Million Funding Secured as Retail Expansion, Operational Streamlining, and Asset-Light Strategy Position the Company for Accelerated Growth $SOWG
- The "Unsexy" Business Quietly Creating 130+ New Entrepreneurs Across America — From Alaska to Puerto Rico
- Veteran Launches GTG Energy: Nicotine-Free Pouch as Americans Rethink Addiction, Focus, and What Fuels Performance
- RecallSentry™ App Launch — Your Home Safety Hub — Free on iOS & Android
- Award-Winning Director Crystal J. Huang's Under-$50K Film "The Ritual House" Wins Best Horror Feature at Golden State Film Festival