Liberty SBF Closes $3.6 MM Bridge Loan For Florida Medical Office Center
Liberty SBF’s flexible financing allows borrower to restructure his holding company and provide working capital.
TAMPA, FL – Nov. 27, 2013 – Liberty SBF, a full-service real estate finance company, is proud to announce that it has provided a $3,562,000 bridge loan for a “state of the art” medical office complex located outside of Tampa, FL. The 12-month loan enabled the borrower to restructure his holding company and provided working capital. A total of 25,236 square feet of office space serves as collateral for the loan.
The medical complex sits on an eleven-acre campus in the Tampa Bay Area and consists of a world class Imaging Center, Neurology Center, Pain Management Center, and Surgical Center, along with an Administration Center. The property is easily accessible from Tampa International Airport, St. Pete / Clearwater Airport, Interstate 75, and Interstate 4.
In an example of how Liberty SBF’s flexible financing solutions can help get commercial real estate deals to closing, the borrower was able to restructure commercial real estate holdings from a personal asset into a holding company and provide working capital to his management company. The borrower will eventually take out the bridge loan with permanent financing.
Alex Cohen, CEO of Liberty SBF, said that this transaction represents the kind of financing his company offers to commercial property owners in order to close fast and reposition properties.
“The borrower was looking to monetize his real estate holdings while continuing to manage this perfoming property,” Cohen said. “Our bridge loan fit his needs perfectly and we were happy to help.”
The bridge loan fits many borrower’s needs because it has some of the most flexible terms available so borrowers can take advantage of today’s dynamic commercial real estate market. Rates start as low 5.99% on balances beginning at $3MM with no prepayment penalties.
About Liberty SBF
Liberty SBF is a full-service commercial real estate finance company that provides loan origination, loan servicing and lender services. The company has a special expertise in small-balance commercial lending, lending directly from its balance sheet and originating loans for its investment partners. For more information about Liberty SBF, please visit http://www.libertysbf.com.