BLC has just funded a $8,320,000 bridge loan for the purchase of two mixed-use office and retail buildings in Ohio. The property received multiple bids, however the borrower was able to secure the property by tying the purchase with the lease-up of two of the larger units. The loan from BLC assisted in a timely closing on the purchase and allows the borrower time to season new leases and increase occupancy, after which the borrower will pursue long-term financing. This is another example of The BLC Companies knowledge and experience providing a timely, workable and beneficial financing solution for the borrower.
