Beverly Hills, CA — August 20, 2024 — BridgeCore Capital, Inc. today announced it has closed a refinance of a vacant duplex in Torrance, CA.

The out-of-state borrower needed the funds by month’s end in order to refinance a maturing loan and pay outstanding property taxes.

The borrower’s exit strategy is to renovate and lease the vacant units and then either refinance with a conventional loan, or sell the property within the next 12 months.

BridgeCore closely coordinated with the mortgage advisory team, the borrower, and the title company to close the transaction within the needed time-frame, enabling the borrower to avoid incurring default interest, late fees and penalties on further delaying the payment of outstanding property taxes.

Employing its precedent-setting fixed-rate program, BridgeCore helped ensure that the borrower would not incur any interest rate risk in today’s inflationary environment.

BridgeCore harnessed its comprehensive resources and experience to solve a critical timing challenge and provide highly competitive 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 $5M to $30M+.

For more information, visit bridgecorecapital.com.

 

Company Contact:

Elliot Shirwo
BridgeCore Capital, Inc.
424-777-0063
elliot@bridgecorecapital.com

Media Contact:

Roger Pondel
PondelWilkinson Inc.
310-279-5965
rpondel@pondel.com