Trevian Capital Funds $16,500,000 First-Mortgage Bridge Loan in Belleville, NJ

NEW YORK, Sept. 10, 2015 /PRNewswire/ -- Trevian Capital, a direct lender that provides flexible and reliable short-term bridge loans for commercial real estate opportunities nationwide, has funded a $16,500,000 first-mortgage bridge loan secured by a 100% occupied, 400,000 square foot self-storage and warehouse property in Belleville, NJ.  The loan proceeds are being used to pay off an existing defaulted CMBS loan, fund the buildout of an additional 510 self-storage units, and provide the borrower cash out. The Property is primarily occupied by Safe & Secure Self Storage, a borrower-owned company, which occupies 300,000 square feet.  An additional 100,000 square feet of warehouse/storage space is leased on a long-term basis to Essex County and Ecuadorian Rain Forest.

"This transaction reinforces Trevian Capital's reputation as a special situations bridge lender catering to the middle market on a nationwide basis.  We are adept at getting our arms around complex situations and stories, understanding the underlying real estate, and crafting a solution for our borrowers in a timely manner," said Michael Hoffenberg, Founder and Managing Principal.  "Our borrower encountered a series of challenges after a failed development led to a litigious partnership dispute, all stemming from the financial crisis.  Even though it was an isolated event it has restricted the borrower's ability to obtain conventional financing.  After developing a deep understanding of the borrower's background, and in consideration of the strong cash flow at the asset, we were able to structure a deal that gives the borrower ample time to clear up outstanding issues and get back on track towards a conventional exit.  Trevian continues to be willing to roll up our sleeves and dig into challenging scenarios where others won't."

Trevian Capital (www.treviancap.com) provides flexible, reliable and timely first-mortgage bridge loans to the commercial real estate industry nationwide, with a focus on the $2 million to $50+ million plus middle market. Trevian Capital lends to borrowers whose needs do not meet conventional timing and/or underwriting guidelines. Trevian Capital specializes in non-traditional financing where expertise, local knowledge and attention to special circumstances are critical. 

With roots in Chicago and New York, Trevian Capital lends nationwide.

Contact: Michael Hoffenberg (212) 376-5636; [email protected]

SOURCE Trevian Capital

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