Beverly Hills, CA — August 8, 2023 — BridgeCore Capital, Inc. today announced it has closed a $1.13 million loan on a Dairy Queen property in Vancouver, Washington.
Bridge financing in a timely manner was required to finance the acquisition of a Dairy Queen property that the borrower has operated for many years as a franchisee.
The borrower needed to purchase the real estate, with quick execution, once the California probate court approved the resident agent for the transaction in the State of Washington. Under the purchase and sale agreement, the borrower had only seven business days to close from the date of the court’s approval.
Even with the time sensitivity of this purchase, BridgeCore was able to close the transaction quickly, within the required timeframe.
BridgeCore employed its precedent-setting fixed-rate program to assure that the borrower would not incur any interest rate risk in today’s increasingly inflationary and rapidly changing rate environment.
BridgeCore harnessed its comprehensive resources and experience to expeditiously solve the borrower’s critical timing challenge, expediting the process and securing highly competitive loan terms relating to leverage and overall costs.
About BridgeCore Capital
BridgeCore provides short-term loans ranging from $1 million to $60 million on commercial real estate in prime U.S. markets, including the origination of senior debt and purchase of non-performing loans secured by first trust deeds. Additionally, borrowers throughout the nation can take advantage of BridgeCore’s unique “Pay-Rate Protection” product, which reduces monthly payments to as low as 7.99% per annum (“Pay-Rate”) for the entire loan term, deferring the remaining interest until loan pay-off, without compounding interest.
For more information, visit bridgecorecapital.com.