Bridge Loan for Columbus Ohio Office Building Refinance

Bloomfield Capital funded a $7,000,000 bridge loan to refinance a 10-unit office building in Columbus, OH. The Borrower was left at the alter by another lender and needed to fund fast. In addition to paying off the existing 1st mortgage, the Borrower got a little money for tenant improvements and leasing commissions. The property is a quality asset (115,000 square feet) with an estimated value of $11M, located in the best suburban market of Columbus. Bloomfield’s team was able to fund this loan within 2 weeks. The term for this bridge loan was 1 year. This transaction was completed in May 2014.