$11,275,000 Bridge Loan for the Refinance of a Mixed-Use Office Building in Ohio

BLC would like to highlight a recent $11,275,000 bridge loan for the refinance of a mixed-use office building in Ohio. The property is an investor-owned office building. The borrower’s current financing was maturing and they did not like the extension terms offered by their current lender. In addition, this property was cross-collateralized by another property. The borrower sought a bridge loan to refinance the properties seperately, wait out the current uncertain banking climate and high interest rate period before pursuing long-term, more permanent financing. The property is occupied by a single long-term tenant that has recently completed major renovations to the subject property and made it their global headquarters. This is another example of The BLC Companies knowledge and experience providing a timely, workable and beneficial financing solution for the borrower.