Beverly Hills, CA — November 7, 2023 — BridgeCore Capital, Inc. today announced it has closed a cash-out refinance loan on a Kid City USA property in Lewisville, Texas.
The borrower needed the proceeds in order to purchase another property in North Carolina for commercial development. Under the purchase and sale agreement, the borrower had only approximately three weeks to close, and BridgeCore was able to complete the transaction within the required timeframe.
BridgeCore lends to a variety of borrower types, including individuals, corporations, single purpose entities, trusts and foreign nationals. In this case, BridgeCore structured the loan to address a multi-asset based borrowing entity.
Employing its precedent-setting fixed-rate program, BridgeCore was able to assure that the borrower would not incur any interest rate risk in today’s increasingly inflationary and rapidly changing rate environment.
BridgeCore also harnessed its comprehensive resources and experience to quickly solve the borrower’s critical timing challenge, expediting the process and securing highly competitive and creatively structured loan terms.
About BridgeCore Capital
BridgeCore provides bridge loans on commercial and non-owner occupied residential real estate in the U.S., including origination of senior and junior debt and purchase of non-performing loans secured by first trust deeds. Additionally, borrowers throughout the nation can take advantage of BridgeCore’s newly launched “Middle Market Loan Program”, which is an alternative to traditional lifeco financing. This program provides borrowers with flexible pre-pay, interest only, non-recourse, and fixed-rate financing with 2-to 5-year terms for loan sizes ranging from $10M to $30M+.
For more information, visit bridgecorecapital.com.