Trevian Capital Funds Three Bridge Loans Totaling $29,125,000 Highlighted by a $10.7 Million Loan Closed in Four Days

09 Mar, 2016, 11:37 ET from Trevian Capital

NEW YORK, March 9, 2016 /PRNewswire/ -- Trevian Capital, a direct special-situations lender that provides flexible and reliable short-term bridge loans for commercial real estate opportunities nationwide, recently funded three first-mortgage bridge loans totaling $29,125,000.

Phoenix, AZ - $10,700,000

Trevian Capital funded a $10,700,000 first-mortgage bridge loan secured by a recently renovated and stabilized 270-unit, garden-style multifamily complex in Glendale, Arizona.  Despite the strong collateral quality, the new CMBS lender kicked the loan from the conduit pool due to the sponsor's recent litigation history.  This led to the borrower facing an imminent maturity default and a 5% penalty on the entire loan amount, plus default interest and fees associated with a default.  Trevian stepped into existing diligence and funded the loan in four days from term sheet execution to close. Trevian's speed and certainty of execution allowed the sponsor to refinance the existing debt and avoid default.

New York, NY - $12,350,000

Trevian Capital funded a $12,350,000 first-mortgage bridge loan secured by an 18-unit multifamily building on the Upper East Side of Manhattan.  After inheriting the property, the first-time sponsor required a lender that would refinance the existing defaulted loan in a timely manner and give the sponsor ample time to assess whether to reposition, or sell the property as-is.  Trevian's ability to quickly understand a complex situation allowed the sponsor to save the property from an aggressive lender.

Durham, NC - $6,075,000

Trevian Capital funded a $6,075,000 first-mortgage bridge loan secured by a 99-unit independent senior living facility in Durham, NC, to a sponsor with a $34,000,000 personal judgement against him.  Proceeds from the loan were used to retire existing debt and provide a partial cash-out to facilitate a time-of-the-essence acquisition of an additional senior living asset.  Trevian funded the loan in less than three weeks.

Trevian Capital (www.treviancap.com) provides flexible, reliable and timely first-mortgage bridge lending solutions to the commercial real estate industry with a focus on the $2—$100+ million middle market. Trevian Capital lends to borrowers whose needs do not meet conventional timing and/or underwriting guidelines. Trevian Capital specializes in non-traditional financing where expertise, attention to special circumstances, and certainty of execution are critical. 

With roots in Chicago and New York, Trevian Capital lends nationwide.

Contact: Michael Hoffenberg (212) 376-5636; michael@treviancap.com

SOURCE Trevian Capital



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