Bloomfield Capital funds $3.0 million hotel loan on Auction.com
BIRMINGHAM, Mich., Nov. 27, 2013 /PRNewswire/ -- Bloomfield Capital, a specialty real estate finance firm, has announced the closing of a $3.0 million senior bridge loan to purchase a limited service hotel in Overland Park, Kansas on auction.com.
Bloomfield's loan proceeds allowed the sponsors to finance the hotel property after they had already put down a significant non-refundable deposit at auction.
"Dependable bridge capital is still a rare commodity in today's market, and when time is of the essence, execution is the most important component to success," stated Jason Jarjosa, a principal at Bloomfield Capital. "Brokers and borrowers alike have come to know Bloomfield as a dependable debt capital provider."
During the last 36 months, Bloomfield has provided numerous loans for auction acquisitions. As a Direct Lender, Bloomfield is able to quickly assess, underwrite, and fund these types of auction opportunities.
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 firstname.lastname@example.org.
SOURCE Bloomfield Capital