Bloomfield Capital Closes Multifamily Bridge Loan

Posted: Tuesday, May 1, 2012

Bloomfield Capital Closes Multifamily Bridge Loan

HOUSTON, TX - Bloomfield Capital, a specialty finance firm focused on originating and purchasing commercial real estate loans, recently funded a $6,000,000 senior bridge loan in Houston, TX. The loan, collateralized by a 440-unit multifamily complex, allowed the borrower to purchase the multifamily complex at auction.

"This multifamily acquisition is another example of a borrower using Bloomfield's bridge capital to secure a great REO asset at a significant discount to prior debt levels," said Brent Truscott, a principal at Bloomfield Capital. "In today's real estate debt market, a reliable bridge lender is oftentimes the difference between an investor capitalizing on a market opportunity or losing a deal while waiting on the sidelines for conventional lenders to perform."

Bloomfield Capital is a direct real estate lender and equity investor based in Birmingham, Michigan ( www.bloomfieldcapital.com ). Bloomfield meets the needs of time-sensitive transactions by specializing in small-medium balance debt opportunities ($1,000,000 - $15,000,000) and select joint venture equity participations with owners, operators and developers throughout the nation. Bloomfield specializes in unconventional financings where expertise, 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 to each client's unique situation.

Source: Bloomfield Capital / #Multifamily #Loans

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