Bloomfield Capital closes $1.4 million mixed-use bridge loan in Oakland County, MI
BIRMINGHAM, Mich., Aug. 12, 2013 /PRNewswire/ -- Bloomfield Capital, a specialty real estate finance firm, has announced the closing of a $1.4 million senior bridge loan to purchase and renovate a mixed-use office and retail building in Oakland County, MI.
Bloomfield's loan proceeds allowed the sponsor to quickly purchase a historic multi-tenant building. The sponsor will renovate the existing second floor offices and restructure and extend leases for 1st floor retail tenants.
"The demand for solid mixed-use assets in vibrant urban areas continues to increase," stated Jason Jarjosa, a principal at Bloomfield Capital. "There are few direct lenders that can quickly react to acquisitions where the asset is in transition. Our team was able close this transaction in two weeks."
Headquartered in Birmingham, Mich., Bloomfield Capital is a direct real estate lender and equity investor meeting the demands of specialized, time-sensitive transactions. The firm focuses on small to medium-balance debt opportunities ($1 million to $15 million) and select joint-venture equity participations with owners, operators and developers throughout the nation. Bloomfield Capital offers 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. As a direct investor and lender, Bloomfield is able to create flexible, custom-tailored solutions for each unique situation. With offices in the Detroit and Chicago markets, Bloomfield Capital can be found on the Web at www.bloomfieldcapital.com.
For more information, please contact Jason Jarjosa at (248) 745-1700, or via email at email@example.com.
SOURCE Bloomfield Capital