Bloomfield Capital Funds $1.8 Million Bridge Loan on Macon, GA Apartments

BIRMINGHAM, Mich., March 5, 2015 /PRNewswire/ -- Bloomfield Capital, a specialty real estate finance firm, has announced the closing of a $1.8 million senior bridge loan to refinance and renovate an apartment complex located in Macon, GA. 

The project sponsor used Bloomfield's senior bridge loan to execute on a renovation and stabilization plan after a prior lender was not able to fund the renovation loan as promised.

"This asset was in great shape and was partially renovated, so we understood that the sponsor had a viable plan in place, but was lacking the necessary capital to execute," stated Nicholas Coburn, a principal at Bloomfield Capital.  "Bloomfield's bridge loan will allow this asset to quickly achieve positive cash flow, in a market where there is a demand for newly renovated Class B apartments."

Coburn also added, "Tight closing timelines and transactions in need of stabilization or lease-up have become our specialty."

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 and Chicago markets, Bloomfield Capital can be found online at www.bloomfieldcapital.com.

Media Contact:
Mary White
Marketing Coordinator
Bloomfield Capital
248-745-1700
[email protected]

SOURCE Bloomfield Capital

Related Links

http://www.bloomfieldcapital.com