BIRMINGHAM, Mich., Feb. 10, 2016 /PRNewswire/ -- Bloomfield Capital, a national direct lender and specialty real estate finance firm, has announced the closing of a $3.2 million senior bridge loan. The loan proceeds were used to fund the discounted payoff on four (4) multifamily assets in Chicago. Bloomfield's loan allowed the Sponsor to execute on a year-end closing and take advantage of a 32% discount to the prior loan balance.
Over the last 12 months, Bloomfield Capital has funded over $37 million in loans in the metro Chicago area. These loans are secured by a variety of properties including retail, office, industrial, multifamily, hospitality, and service stations. Closings have occurred in as little as three weeks and have allowed borrowers to take advantage of discounts on legacy debt, renovate distressed assets, and acquire value rich properties.
About Bloomfield Capital
Bloomfield Capital meets the needs of time-sensitive transactions by specializing in small-medium balance debt origination and acquisition opportunities ($1,000,000 - $15,000,000) with owners, operators and developers throughout the nation.
We offer particular expertise in unconventional financings where industry acumen, local knowledge and attention to special circumstances will result in a substantial financial advantage to the sponsor.
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SOURCE Bloomfield Capital