BIRMINGHAM, Mich., June 15, 2016 /PRNewswire/ -- Bloomfield Capital (Birmingham, MI), a national direct lender and specialty real estate finance firm, has announced the closing of a $5.4 million senior bridge loan. The loan proceeds were used to refinance the debt on three (3) limited-service hotels located in the Florida panhandle. Bloomfield's funds will allow the Sponsor to renovate and rebrand the hotels.
"This transaction allowed Bloomfield to finance the notes on three well-located, quality assets at a discount to the outstanding debt," stated Nicholas Coburn, a principal at Bloomfield Capital. "As a direct capital provider, Bloomfield was able to structure a loan on this value-rich opportunity within a condensed closing timeline," Coburn added.
Bloomfield Capital has been an active lender in the hospitality space nationally, with a focus on limited-service properties. Our strong understanding of hotel fundamentals and operations gives Bloomfield the ability to quickly assess and underwrite complex situations.
About Bloomfield Capital
Bloomfield Capital meets the needs of time-sensitive transactions by specializing in small-medium balance debt origination and acquisition opportunities ($1,000,000 - $15,000,000) with owners, operators and developers throughout the nation.
We offer 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.
Bloomfield Capital Contact:
Erin Bourdic
Senior Marketing Coordinator
248-745-1700
erin@bloomfieldcapital.com
SOURCE Bloomfield Capital
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