BridgeCore Capital, Inc. has announced the closing of a $750,000 refinance of a suburban office complex located in Rocklin, California. The transaction, which also provides cash-out proceeds, is intended to fund capital improvements at both the Rocklin property and another office property in Tracy, CA. The borrower's business plan involves completing the improvements and selling the Rocklin property within a year.
Certainty and speed of execution were critical to the borrower's exit strategy, and BridgeCore successfully closed the transaction within a tight timeline. The company worked closely with a trusted mortgage advisory team, the sponsor, and the title company to coordinate an efficient closing process and ensure the transaction was completed on schedule.
By leveraging its extensive experience, in-house capabilities, and flexible capital base, BridgeCore was able to solve a critical timing challenge while delivering highly competitive financing terms. This deal highlights the importance of having a lender that can adapt quickly to borrower needs, particularly when time-sensitive capital improvements and property sales are involved.
The refinancing of office properties in suburban markets like Rocklin and Tracy reflects ongoing trends in commercial real estate, where borrowers seek to reposition assets through renovations and strategic sales. The ability to access cash-out proceeds for improvements can enhance property value and appeal to potential buyers, especially in a competitive market.
For BridgeCore Capital, this transaction underscores its role as a provider of bridge loans for commercial and non-owner occupied residential real estate across the U.S. The company offers origination of senior, junior, and mezzanine debt, as well as preferred equity. Its “Bridge Loan Program” provides flexible pre-pay, interest-only, non-recourse, and floating-rate financing with one- to three-year terms for loan sizes ranging from $15 million to $50 million or more.
More information about BridgeCore Capital is available at www.bridgecorecapital.com. The original press release can be viewed at www.newmediawire.com.
