Bloomfield Capital closes $1,700,000 senior bridge loan on southeast Michigan warehouse
BIRMINGHAM, Mich., Jan. 16, 2013 /PRNewswire/ -- Bloomfield Capital, a specialty finance firm focused on originating and purchasing commercial real estate loans, has announced the closing of a $1,700,000 senior bridge loan on a multi-tenant warehouse located in southeast Michigan. Bloomfield's loan proceeds were used to finance the purchase of the warehouse facility through an off-market sale.
"Given the recent demand for distribution and warehouse space in southeast Michigan, the sponsor sought out this transitional asset as leases with prior tenants were expiring," said Jason Jarjosa, a partner at Bloomfield Capital. "The sponsor's ability to structure new leases during the due-diligence period allowed for immediate cash flow after the ownership transition, as well as allowing for a related business to move into the space as it continued to expand".
This bridge loan origination is a fit with Bloomfield's loan origination strategy of investing in cash-flowing assets at a fraction of their replacement cost. Bloomfield Capital has been an active originator of small-to-medium balance debt opportunities ($1,000,000 - $15,000,000) and select joint-venture equity participations with owners, operators and developers of real estate throughout the nation. The company has been an active investor in a variety of projects, including multifamily, office, hospitality, industrial/warehouse and retail. Bloomfield's approach meets the needs of time-sensitive transactions by specializing in unconventional financings where expertise, local knowledge and attention to special circumstances result in a substantial financial advantage to the project team.
Headquartered in Birmingham, Mich., Bloomfield Capital is a direct real estate lender and equity investor. As a direct investor and lender, Bloomfield is able to create flexible, custom-tailored investment solutions to each client's 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 firstname.lastname@example.org.
SOURCE Bloomfield Capital