BridgeCore Capital, Inc. announced it has closed a $600,000 cash-out financing of a vacant Hardee's restaurant in Springfield, Illinois. The borrower sought to recapitalize the property to obtain funds for acquiring a hospital within a short timeframe prior to year-end.
Given the urgency of this financing, BridgeCore underwrote, completed due diligence, and secured signed loan documents within seven business days of the term sheet execution. The company coordinated closely with the mortgage advisory team, the borrower, and the title company to close the transaction within the needed timeframe to enable the borrower to secure its acquisition.
BridgeCore harnessed its comprehensive resources and experience to solve a critical timing challenge and provide highly competitive loan terms on the vacant retail building. The company is nationally recognized for its expertise and proven track record in financing vacant retail properties.
This transaction demonstrates BridgeCore's ability to provide flexible financing solutions for commercial real estate owners facing time-sensitive opportunities. The company provides bridge loans on commercial and non-owner occupied residential real estate in the U.S., including origination of senior, junior and mezzanine debt, and preferred equity.
Borrowers throughout the nation can take advantage of BridgeCore's "Bridge Loan Program," which provides flexible pre-pay, interest only, non-recourse, and floating-rate financing with one-to three-year terms for loan sizes ranging from $15M to $50M+. For more information about their services, visit https://www.bridgecorecapital.com.
The successful completion of this financing highlights the importance of specialized lenders in the commercial real estate market who can navigate complex transactions under tight deadlines. For property owners facing similar timing challenges or seeking to unlock equity from vacant properties, this case illustrates how experienced lenders can facilitate strategic acquisitions and recapitalizations.
This type of financing arrangement has broader implications for the commercial real estate industry, particularly in secondary markets like Springfield, Illinois. It demonstrates that even vacant retail properties can serve as valuable collateral for owners seeking to fund other business ventures or acquisitions. The ability to quickly access capital from specialized lenders like BridgeCore can be crucial for businesses looking to capitalize on time-sensitive opportunities in various sectors, including healthcare acquisitions as demonstrated in this case.
The transaction also underscores the ongoing demand for bridge financing in the commercial real estate sector, particularly for properties that may not qualify for traditional bank financing due to vacancy or other factors. As businesses continue to adapt to changing market conditions, the flexibility provided by lenders like BridgeCore becomes increasingly valuable for property owners seeking to optimize their real estate assets while pursuing strategic business objectives.
