Newport Capital has recently facilitated a series of transactions in California and the Chicago suburbs, providing over $12 million in bridge loans for various commercial real estate assets. One notable transaction involved a $2.7-million loan to finance the acquisition of an eight-unit multifamily property in San Bernardino, enabling the borrower to make improvements and increase rental rates.
In addition, Newport also provided a $2.6-million loan to refinance existing debt on a 22,000-square-foot industrial facility in Oakland and another $1.1-million loan for refinancing on a 4,000-square-foot mixed-use property located in Long Beach.
Furthermore, Newport assisted with refinancing efforts for a major retailer-anchored strip mall situated in the northern suburbs of Chicago through their provision of a $5.7-million bridge loan. This client had previously worked with Newport and sought their services once again to pay off existing debt.
The aforementioned transactions demonstrate Newport Capital’s expertise and success within both California’s competitive market as well as that of Chicago’s surrounding areas.
