Dallas, TX

$2,200,000

Industrial, Office

Refinance

03/15/2017
Transaction by
BridgeInvest
BridgeInvest closed a $2.2 MM, first-priority bridge loan secured by a 62,000 SF flex building in Dallas, TX. The property, built-to-suit in 1997, is owned and used by the sponsor, a leader in the cash sorting and authentication industry. It benefits from its excellent location within the Las Colinas Business Park, with immediate proximity to DFW Airport and various key transportation arteries linking it to the greater Dallas Fort Worth Metroplex. The sponsor sought to leverage the significant equity in the property, which it owned on an all-cash basis. They expect to use the loan proceeds to fund its working capital needs as the business expands to meet growing customer demand. Since the property was owned and used by the same company, the property produced no cash flow making it difficult for many lenders to underwrite. BridgeInvest was able to see the intrinsic value of the well located building and offered an attractive loan to allow the sponsor to take advantage of its market opportunity. This bridge loan was funded in March 2017.