Bridge Loan for DFW Retail Center Refinance & Renovation in Coppell, Texas

BridgeInvest, a direct CRE private lender, funded a $12,325,000 senior bridge loan secured by a 110,860-square-foot neighborhood shopping center in the Dallas suburb of Coppell, TX. The loan will not only refinance the property but also provide the Sponsor with ample proceeds to complete the build-out of the anchor space and further stabilize the property through lease-up and tenant improvements of the property’s in-line spaces. The property will be anchored by a lifestyle fitness center replacing a regional grocer that recently vacated the space, creating a credit scenario that was difficult for traditional lenders to underwrite. We got comfortable with the tenant’s creditworthiness and structured the loan accordingly to meet the Borrower’s needs. We accrued a portion of the interest until maturity, providing the Borrower the flexibility to execute their business plan while also effectively managing costs. The loan also includes multiple advances to fund tenant improvements and leasing commissions as the anchor and in-line spaces are leased. The property is located in an affordable sub-market just north of the Dallas Fort Worth International Airport and right off of the I-635 expressway. The strong location will provide tenants with a strong flow of potential customers while maintaining the property’s role as a true neighborhood center. This CRE bridge loan was funded in September 2019.