Bloomfield Capital Provides $7.0 Million Senior Bridge Loan to Illinois Hotel
“Limited service hotel funding continues to be a priority for us,” said Jason Jarjosa, Partner and Managing Director of Bloomfield Capital. “Banks have retreated into this sector, and we are seeing more and more opportunities to provide bridge capital for property improvement projects on well-located and relatively new hotel assets like this,” he said. -he adds.
flowery field quickly subscribed to the Sponsor’s renovation budget as well as the historical and projected operating performance of the hotel. The promoter plans to refinance Bloomfield’s bridge loan with a conventional loan upon completion of necessary renovations and stabilization of hotel operations.
About Bloomfield Capital
Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, Denver, Chicago, Los Angeles, Portland and New York, the Bloomfield Capital team draws on a broad base of commercial real estate and finance experience. The company provides debt and equity solutions to meet the demands of time-sensitive and complex transactions. Bloomfield Capital specializes in small to mid-size financings from $3 million to $30 million in the form of bridge loans, mezzanine loans and preferred stock investments.
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