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BIRMINGHAM, Mich., Sept. 11, 2019 (GLOBE NEWSWIRE) -- Bloomfield Capital, a national direct lender and equity investor, has announced the closing of a $3.5 million senior bridge loan on a 61,000 square foot flex industrial building in Melbourne, FL.
The property is located in the Space Coast market within close proximity to major aerospace and technology companies, including NASA, SpaceX, and Blue Origin. Bloomfield’s bridge loan will help refinance the existing SBA loan and provide working capital to the sponsorship group, enabling the growth of their business. The sponsor plans to refinance Bloomfield’s debt with conventional financing and to continue to hold the property as its company headquarters.
The sponsor has occupied the property for over thirty years and acquired the site in 2012. The subject building offers a flexible design featuring clean rooms, secure rooms and manufacturing space. “This was a fast-moving transaction. Deadlines were crucial to the sponsor’s ability to meet their delivery requirements,” stated Brent Truscott, Partner at Bloomfield Capital. “We were attracted to the building’s location, design and the longevity of the sponsor’s business.”
About Bloomfield Capital
Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, New York, Los Angeles, Denver, Chicago, and Portland, 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 $2-20 million in the form of bridge loans, mezzanine loans and preferred equity investments.
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