BridgeCore Capital, Inc. has announced the closing of a $750,000 refinance of a suburban office complex in Rocklin, California, highlighting the lender's capacity to provide tailored financing solutions under tight timelines. The transaction, which also included cash-out proceeds, will enable the borrower to fund capital improvements at both the Rocklin property and another office property in Tracy, CA, with a plan to sell the Rocklin asset within a year.
The borrower's need for certainty and speed of execution was paramount given the planned exit strategy. BridgeCore successfully closed the transaction within the borrower's tight timeline, coordinating closely with the mortgage advisory team, the sponsor, and the title company to ensure an efficient closing process. Mike Wirth, a representative from BridgeCore, emphasized the company's ability to solve critical timing challenges while delivering competitive financing terms.
This transaction underscores BridgeCore's expertise in bridge lending for commercial and non-owner occupied residential real estate across the U.S. The company's flexible capital base and in-house capabilities allow it to originate senior, junior, and mezzanine debt, as well as preferred equity. Through its Bridge Loan Program, BridgeCore offers loans ranging from $15 million to $50 million or more, with terms of one to three years, featuring flexible pre-payment, interest-only, non-recourse, and floating-rate options.
The Rocklin refinance is a testament to the growing demand for quick, reliable financing in the commercial real estate sector, particularly for borrowers looking to reposition assets. By leveraging its extensive experience, BridgeCore provided a solution that not only met the borrower's immediate needs but also supported their long-term business plan. For more information about BridgeCore's services, visit www.bridgecorecapital.com. The original press release is available on www.newmediawire.com.
