Aug
01
Bloomfield Capital Funds Retail Loan
ByA Nashville, Tenn., real estate development firm sponsored a $3.2 million senior bridge loan for the refinance and renovation of a 30,000-square-foot retail center in greater Nashville.
Bloomfield Capital closed a $3.2 million senior bridge loan for the refinance and renovation of a 30,000-square-foot retail center in Nashville, Tenn. The sponsor is a local real estate development firm that purchased the former single-tenant asset as REO from a bank. The company converted the asset into a multi-tenant retail property. Bloomfield’s loan proceeds refinanced a prior lender and provided the tenant improvement funds necessary to finish the interior build-out.
Flexible bridge capital
Multiple tenants have already signed leases on the space and are waiting to occupy the well-located retail building. Bloomfield’s loan will fund the capital necessary to complete improvements at the property and bring the asset to full occupancy…
