BridgeCore Capital, Inc. announced it has closed a $1,500,000 acquisition financing of a Grease Monkey property in Auburndale, Florida. The transaction represents a significant example of alternative financing solutions addressing urgent commercial real estate needs when traditional banking channels face unexpected delays.
The borrower required a quick closing on the sale-leaseback of a car-wash and oil service property due to an unexpected delay with the borrower's bank financing. It was critical to the borrower that the acquisition be completed by 2025 year-end to secure needed tax benefits and maintain the same leverage as originally offered by the bank - 70% of the purchase price. BridgeCore underwrote, completed its due diligence, and funded the transaction within seven business days from the term sheet signing, demonstrating the efficiency of specialized bridge lenders in time-sensitive situations.
BridgeCore coordinated closely with the broker team, the borrower, and the title company to close the transaction within the needed time-frame, enabling the borrower to secure the acquisition despite banking delays. The company harnessed its comprehensive resources and experience to solve a critical timing challenge while providing competitive loan terms. This transaction highlights the growing importance of alternative lenders in commercial real estate, particularly for borrowers facing time-sensitive opportunities or unexpected financing obstacles.
The financing demonstrates how bridge lenders like BridgeCore can provide flexible solutions when traditional financing falls through or faces delays. BridgeCore provides bridge loans on commercial and non-owner occupied residential real estate in the U.S., including origination of senior, junior and mezzanine debt, and preferred equity. Borrowers throughout the nation can take advantage of BridgeCore's Bridge Loan Program, which offers flexible pre-pay, interest only, non-recourse, and floating-rate financing with one-to three-year terms for loan sizes ranging from $15 million to $50 million and above.
This transaction underscores the broader trend in commercial real estate financing where specialized lenders are increasingly filling gaps left by traditional banks, particularly for time-sensitive transactions. The ability to close substantial acquisitions within tight deadlines provides businesses with crucial flexibility in competitive markets. For more information about BridgeCore's financing options, visit their website at https://www.bridgecorecapital.com.
