Bridge Loan for Single-Tenant Retail Building in Fort Worth, Texas

BridgeCore Capital, a direct CRE private lending firm, funded a $1.34M non-recourse bridge loan to purchase a single-tenant retail property located in Fort Worth, Texas. The property was occupied by Family Dollar. BridgeCore’s industry-leading pay-rate bridge product provided the Borrower with a 7.00% pay rate during the entire loan term, with the remaining interest accruing to loan pay-off without compounding interest. Due to the REIT structure of the borrowing entity, conventional financing could not be secured in a timely manner for the purchase. With limited time to close, and given the constraints of the former lender, BridgeCore was able to quickly fund the purchase with the existing borrowing entity structure. BridgeCore’s 12-month term, including one six-month extension option, is now providing the Borrower the necessary time to pursue and execute an ultimate exit strategy with conventional financing. This CRE bridge loan was funded in July 2021.