Atlanta, GA

$6,000,000

Commercial Land

Purchase

04/13/2018
Transaction by
BridgeInvest
$6MM land acquisition bridge loan secured by a 1.82-acre development site in Midtown Atlanta, Georgia. The site is fully entitled for the development of a 5-story, 150-unit condominium project. The sponsor is an Atlanta-based subsidiary of a prominent Chinese developer. The borrower plans to immediately commence with construction of the project. The loan allows for the demolition of current improvements and the preliminary construction of the condominium project. BridgeInvest tailored the loan with consideration to the borrower’s complex organizational structure with foreign owners. The borrower required an expedited closing in one month due to a rapidly approaching acquisition deadline, which we were able to meet. This bridge loan was funded in April 2018.