BridgeCore recently launched its Middle Market Loan Program in Fall 2023, providing an alternative to traditional LifeCo financing. The borrower urgently needed a $12,800,000 refinance for a single-tenant industrial property located in Henderson, Colorado before the end of the year due to a maturing bank loan at the end of September. Additionally, they were seeking cash-out proceeds for capital repatriation and found that BridgeCore’s 64% LTV refinance offered them this opportunity.
The borrower’s mortgage adviser recommended BridgeCore’s Middle Market Loan Program due to its attractive features such as competitive all-in coupon rates, fixed interest rates with interest-only payments available and non-recourse options. Most importantly for this particular situation was the program’s flexible yield maintenance terms.
With plans to sell the property within two years as their exit strategy aligns perfectly with BridgeCore’s structured three-year term loan which includes an 18-month yield maintenance period.
This successful financing arrangement by Bridgecore highlights their expertise in providing tailored solutions through their innovative programs without compromising on value propositions or flexibility.
