$12.0 Million Senior Bridge Loan
BIRMINGHAM, MI / ACCESSWIRE / March 16, 2023 / Bloomfield Capital announces the closing of a $12.0 million senior bridge loan, which was used to refinance a maturing loan on a skilled nursing facility located in Southern California.
The Sponsor, a seasoned owner and operator, has purchased and restructured multiple senior living assets throughout the Western U.S. The subject property was purchased several years ago, and since that point, the Sponsor has focused on improving the facilities, the quality of care, and its operating performance.
'Bloomfield Capital was able to quickly underwrite and refinance the asset,' stated Renee Lewis, a Partner at Bloomfield Capital. 'This well-managed property is attractive to prospective residents due to its seasoned operational staff, and its infill Southern California location,' Lewis added.
The Sponsor plans to refinance Bloomfield's bridge loan with agency financing once the facility has an additional 12 months of stabilized operating history.
About Bloomfield Capital
Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, Denver, Chicago, Los Angeles, Portland, and NYC, Bloomfield Capital's team draws from a broad base of commercial real estate and finance experience. The firm provides debt and equity solutions to meet the demands of time-sensitive and complex transactions. Bloomfield Capital specializes in small- to medium-sized financings from $4-30 million in the form of bridge loans, mezzanine loans, and preferred equity investments.
SOURCE: Bloomfield Capital
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