Direct Lender Funds Loan on Industrial Complex in Texas
Dec 8, 2022
BIRMINGHAM, Mich. - December 8, 2022 - (Newswire.com)
Bloomfield Capital announces the closing of a $6.0 million senior bridge loan, which provided the capital necessary for the acquisition and renovation of an industrial complex in greater Houston, Texas. The Sponsor required immediate execution due to an expiring purchase contract.
The Sponsor, a real estate private equity fund, owns multiple industrial real estate assets in the Houston area, and has completed lease-up strategies on similar properties in the recent past.
"Industrial real estate in Houston has less than a 6.0% vacancy rate, and the subject's immediate market has less than a 5.0% vacancy rate," stated Jason Jarjosa, a Partner at Bloomfield Capital. "Newer, well-located assets such as this property are attractive to prospective tenants due to their high ceiling heights, existing overhead cranes, and proximity to the George Bush International Airport," Jarjosa added.
The Sponsor plans to ultimately refinance Bloomfield's bridge loan with a conventional loan or sell the asset once the property has been fully leased.
Contact Information:
Brent Truscott
Partner
[email protected]
877-690-7111
Press Release Service by Newswire.com
Original Source: Direct Lender Funds Loan on Industrial Complex in Texas
Recommended
/file/attachments/orphans/image1_394035.jpeg)
YOUR NEWS, OUR NETWORK.
Do you have Great News you want to tell the world?
Be it updates about your business or your community, you can make sure that it’s heard by submitting your story to our network reaching hundreds of news sites across 6 verticals.
More News
Katie Zacharia releases first statement since White House firing after disastrous first week
Donald Trump's ousted press secretary Katie Zacharia has broken her silence after being unceremoniously removed from her role just five days into the job.
Teacher, 25, killed in Oregon shooting is identified as family reveal it was her first - and 'dream' - job
Meghan Lambert of Bend, died in the classroom when Griffin John II, 16, opened fire at Silver Rail Elementary School in Bend, Oregon, on Thursday afternoon.
Kid Rock reveals intimate details about dinner with Trump after he was invited to White House alongside Bill Maher and Stephen A Smith
Rock revealed what the four men from wildly different backgrounds all agreed upon in the room at what he called an 'epic' dinner.
The legacy of 'Mr Manchester', Pat Karney
From fighting for gay rights to banging the drum for Harpurhey, he left a considerable mark
First picture of 'obsessed' stepfather who 'strangled student, 19, after having sex with a life-sized effigy of her'
Nathan Owens, 34, allegedly strangled Carla Georgescu in February after driving more than 100 miles through the night to her student halls in Preston, Lancashire.
Melissa Gilbert quotes Willy Wonka in cryptic missive as child sex charges against West Wing star husband Timothy Busfield are dismissed
Melissa Gilbert celebrated the dramatic dismissal of husband Timothy Busfield's child sex charges by quoting Willy Wonka's famous line.
Oregon shooter attacked on school picture day as close-knit community mourn over children's final photos... after teacher hailed hero for brave bid to tackle killer
Joe Camarlinghi, the father of a third-grader at Silver Rail Elementary in Bend, said the tragedy happened on school picture day, when families made sure their kids were looking camera-ready.
Livid brides left in the lurch after shock plan to close New York's legendary Plaza Hotel leaves wedding dreams shattered
Devastated couples claim they discovered their dream venue was shutting through text messages and TikTok, despite having spent thousands on deposits, flights and elaborate arrangements.
New city centre skyscrapers among latest developments across Greater Manchester
These are all the latest developments tabled with local authorities across the city-region
The loophole stopping sold pubs being revived
There is a mechanism that prevents pubs being used as pubs again once sold off, Rochdale Town Hall was told
The Australia-first program removing a key stress for voters
Victoria will soon become the first state to roll out low-sensory polling centres in every lower-house electorate.