{"id":7507,"date":"2022-12-11T21:06:35","date_gmt":"2022-12-12T03:06:35","guid":{"rendered":"https:\/\/1reason.com\/re\/direct-lender-funds-loan-on-mixed-use-sports-complex-4-5-million-senior-bridge-loan\/7507\/"},"modified":"2022-12-12T15:06:35","modified_gmt":"2022-12-12T21:06:35","slug":"direct-lender-funds-loan-on-mixed-use-sports-complex-4-5-million-senior-bridge-loan","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/direct-lender-funds-loan-on-mixed-use-sports-complex-4-5-million-senior-bridge-loan\/7507\/","title":{"rendered":"Direct Lender Funds Loan on Mixed-Use Sports Complex $4.5 Million Senior Bridge Loan"},"content":{"rendered":"<div>\n<figure><figcaption>Featured Image for Bloomfield Capital<\/figcaption>&#013;<br \/>\n  <\/figure>\n<p>&#013;\n<\/p><\/div>\n<p>DETROIT, Nov.  09, 2022  (GLOBE NEWSWIRE) &#8212; Bloomfield Capital announces the closing of a $4.5 million senior bridge loan, which provided the capital necessary for the acquisition and delivery of prefabricated steel for the construction of a mixed-use sports complex in greater Detroit, MI. The Sponsor required immediate execution due to an expiring purchase order at attractive pricing for the building materials.<\/p>\n<p>The Sponsors own multiple commercial real estate assets in Metro Detroit, including gym and athletic training facilities. Bloomfield&#8217;s bridge loan will allow for the Sponsors to continue the expansion of their business and execute their business plan.<\/p>\n<p>&#8220;Covid-19-related supply chain issues continue to plague the construction industry,&#8221; stated Brent Truscott, a Partner at Bloomfield Capital. &#8220;If we were not able to meet a tight closing timeline, our Sponsors would have had to wait an additional 18 months to take delivery of their steel building structure at a significant price premium to their pre-existing contract price.As a direct capital provider and balance sheet lender, Bloomfield Capital can provide flexibility and expediency when time is of the essence on unique financing situations,&#8221; Truscott added.<\/p>\n<p>The Sponsors plan to refinance Bloomfield&#8217;s bridge loan with a conventional construction loan once the rest of their municipal and development plans and approvals are completed for the site.<\/p>\n<p><strong>About Bloomfield Capital<\/strong><\/p>\n<p>Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, Denver, Chicago, Los Angeles, Portland, and NYC, Bloomfield Capital&#8217;s team draws from a broad base of commercial real estate and finance experience. The firm provides debt and equity solutions to meet the demands of time-sensitive and complex transactions. Bloomfield Capital specializes in small- to medium-sized financings from $3-30 million in the form of bridge loans, mezzanine loans, and preferred equity investments.<\/p>\n<p>For more news and information, or to contact us, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=wiAbKsHRvJNZvjbu3w9E_9bDkaY2mzA-R6Jkkd6fGeCFPHJ6UKGRfEZ2GuC4ui7qHChG93QVifuPl8YAer4SW7LbQXVec7V4b29nc47kT-c=\" rel=\"nofollow noopener\" target=\"_blank\" title=\"www.bloomfieldcapital.com\">www.bloomfieldcapital.com<\/a>.<\/p>\n<p>                  <strong><b>Contact Information:<\/b><\/strong>                      <br \/>              Brent Truscott            <br \/>                              Partner                <br \/>                                          <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=MvVFLFCjYNVo-ilcwgLFYo3zjIXv2UqevHOpc4ryS37zSQrlGoBaeMZv1o4VYMDotqTT7TrBrxJ2DgETZFdTlQuRBKU5SJ44GTAiAdrA-Td7aFwC29h_bEdXakADxVQ_\" rel=\"nofollow noopener\" target=\"_blank\" title=\"btruscott@bloomfieldcapital.com\">btruscott@bloomfieldcapital.com<\/a>                 <br \/>                                          877-690-7111                                         <\/p>\n<p><strong><b>Related Images<\/b><\/strong><\/p>\n<p>                         <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=f2FKVln-DdcTLjGfLL7zepa9C05SdGAxArbA9Dp8-ZgrTENNqkOpoAREP_baRi_7lyuQ4N0S9djBXnzGLP0qYNJtRm8cVrr5KuFCqm21U_EAUHd2aH6XPn8X5v0IyjIZmTn0vrs9imWZT1rxERwRg2V4N-VsYHDW1M8g6k_PdaWSLYuUWVAWyYIxuEpwZ10AdFQiLaCJYa-NlQE8qwS50w==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"\">                             <img loading=\"lazy\" height=\"289\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" width=\"512\" class=\"lazyload\" data-src=\"https:\/\/cdn.newswire.com\/files\/x\/73\/cf\/39567262e7a113be4ed9f5fc4b86.jpg\">                         <\/a>                         <\/p>\n<p>                     <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=f2FKVln-DdcTLjGfLL7zepa9C05SdGAxArbA9Dp8-ZgG7LrDvPyVhscJs5xQuMvwVcYZIe0ombIpiyjSt7nFf2EF9Jhu-EZ_BdsPMjb5wNe0EcXph0Ze44AHI2XLu36wMnDI12VuCGsaRxeSOFNW_4MZaQf0yeiXAGtl791gqJI1ZDttPn9EJsDfV4uc-wOdrN5vbB4gAnpIkkrixOXjWQ==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"\">                         <strong><b>Image 1<\/b><\/strong>                     <\/a>                     <\/p>\n<p>     This content was issued through the <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=FJuK-GwkZqnqW963qX2B0sbePmMpnjTUfKKoISqrQTMWrnkVI7elLYa3xEVDlMXUNJ0Gl0K4szslQ_T5g6c4b_V4nSFZAtHMvFcONf2ODQ7EFliqHcQH8aESNm0upzci43MPw-U2o_16kyg4R6Ty1w==\" rel=\"nofollow noopener\" target=\"_blank\" title=\"press release distribution service at Newswire.com\">press release distribution service at Newswire.com<\/a>. <\/p>\n<p id=\"gnw_attachments_section-header\">&#013;<br \/>\n    <strong>Attachment<\/strong>&#013;\n<\/p>\n<p>&#013;<\/p>\n<ul id=\"gnw_attachments_section-items\">&#013;<\/p>\n<li>&#013;<br \/>\n        <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/Tracker?data=q6d-plRf5qyTW42TCM0xiHhqlqOyRgfIKYlRzXO6Q4yG3J6cAOxz5OLlZMntHW-uZyKBNyEssV1AGGH1y23P7orTp9jRyQMXqtJ3X-R0IFJLEs5Hvt0rke99VxfbycD3HFB5hTId48dExPZiGXLuLCi941P7kSolfRM48r-a8ATTXriy8KwvsxPtxpof549S\" title=\"Featured Image for Bloomfield Capital\" rel=\"nofollow noopener\">Featured Image for Bloomfield Capital<\/a>&#013;\n      <\/li>\n<p>&#013;\n      <\/ul>\n<p>&#013;<br \/>\n <br \/><img src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/YjhmNjgyZTktNWUxZi00NTVmLWEzYzItOTQzYjk2NDhjMTViLTEwMzAwMTU=\/tiny\/Bloomfield-Capital.png\"><\/p>\n","protected":false},"excerpt":{"rendered":"<div>\n<div>&#013; 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