Liberty SBF’s $7.15MM Bridge Loan Helps Borrower With Quick Closing On Distressed Real Estate AcquisitionDecember 13, 2013
Borrower closes quickly on a complex deal with Liberty SBF loan.
Liberty SBF, a full-service real estate finance company, is proud to announce that it has closed the financing of a industrial property acquisition in Green Bay, WI.
Liberty SBF secured a $7,150,000 bridge loan to purchase a distressed 180,000-square-foot space for a borrower who needed to close quickly on a complex deal or risk losing a significant deposit.
In an example of how Liberty SBF’s financing solutions can help get commercial real estate deals to closing, the borrower used the flexibility that the bridge loan gave him to take advantage of a distressed real estate acquisition. The real estate collateral will eventually house the borrower’s paper product and textile processing business.
Alex Cohen, CEO of Liberty SBF, said that this deal fits in with the company’s strategy to help small business owners keep doing business under their own terms.
“Our borrower had committed a significant cash deposit to acquire this building and was at risk of losing his deposit and break up fees in addition to incurring leasing costs for his business if this transaction could not close quickly,” Cohen said. “Our bridge loan was a perfect solution.”
Liberty SBF was able to underwrite the real estate, business and personal assets collateralizing this transaction and structure a loan that worked. It was a tight time line and a highly structured transaction but we were able to provide the sponsor the proceeds they needed in a time frame that worked for timeline on this deal.
Our bridge loan fits a borrower’s needs because it has some of the most flexible terms available so customers 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.