Refinance Bridge Loan for San Antonio Development Site

Funded by BridgeInvest

11,000,000

Deal Details

Private Loan Type

Refinance

Approx. Funding Date

20180215

Property Type
Commercial Land
Property City

San Antonio

Property State

TX

Deal Summary

BridgeInvest closed an $11 MM first-priority, land refinance loan secured by a 32-acre development site in San Antonio, Texas. The site is currently home to the former Lone Star Brewery which the borrower plans to redevelop into a premier mixed-use destination along the San Antonio River and just south of the city’s central business district. The project would include hundreds of apartments, a hotel, office space and retail shops that will complement the area’s culture and history. The loan allowed the borrower to refinance his existing debt with a pending maturity and provide time to proceed with the appropriate development plan. BridgeInvest was able to close the loan within the necessary time frame despite the lack of cash-flow from the property. The loan structure allowed the borrower to accrue a portion of the interest costs until maturity to allow for increased flexibility in executing their business plan. This bridge loan was funded in February 2018.

Funded By

BridgeInvest

Bridge & Construction Loans for CRE in the Southeast and Texas

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