BIRMINGHAM, Mich., Oct. 27, 2015 /PRNewswire/ -- Bloomfield Capital, a direct lender and specialty real estate finance firm has announced the closing of a $2.1 million bridge loan, which facilitated a discounted loan payoff from a prior lender. The loan proceeds were used to refinance six properties located in the South Chicago Suburbs and Northern Indiana, including South Holland, Calumet Park, Hammond, Mokena, Munster and Peru. Additionally, the loan provided for capital to renovate and improve occupancy at several of the assets.
"This transaction allowed the Sponsor to take advantage of a discounted payoff and stabilize a portfolio of well located industrial assets," stated Brent Truscott, a principal at Bloomfield Capital. Truscott also added, "Discretionary capital and the ability to underwrite loans in-house are what distinguish Bloomfield from the majority of our peers. Certainty of execution and creative financing solutions are still a rare combination in today's commercial real estate debt markets, and Bloomfield continues to capitalize on our ability to deliver both."
About Bloomfield Capital
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 investment solutions for each unique situation. With offices in the Detroit, Denver and Chicago, Bloomfield Capital can be found online at www.bloomfieldcapital.com.
Bloomfield Capital Contact:
SOURCE Bloomfield Capital