BLC provided $6,750,000 bridge loan for the purchase of an assisted living and memory care facility in Texas. The borrowers were originally going to purchase the property with HUD financing, however the timing for this process was longer than the buyers had to close and they needed a lender who could close quickly in order to acquire the property. The borrowers intend to increase occupancy and stabilize the property before seeking conventional or HUD financing.
$5,087,000 bridge loan for the refinance of a retail center in California
BLC has just funded a $5,087,000 bridge loan for the refinance of a retail center
