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Briar Capital Real Estate Fund Announces $4.785MM Loan to Fashion Wholesaler

November 13, 2019, 09:00 AM
Filed Under: Wholesaler

Briar Capital Real Estate Fund announced it has provided a $4.785MM real estate term loan to a Fashion Products Wholesaler located in Tampa, FL. The loan is secured by the company's owner-occupied office/warehouse facility.

Shortly after constructing a new, state of the art warehouse, this company’s sales fell in excess of 30% due to unforeseen changes in the marketplace coupled with customer consolidation.  Unable to reduce expenses fast enough the business posted significant losses prompting their bank to request they move their line of credit and real estate loan.

Introduced into the transaction by the company’s new ABL lender, BCREF quickly stepped in to accommodate the banks wish to exit the relationship. With a collateral based approach, BCREF was able to overlook the company's recent poor financial performance and provide a covenant free, payment friendly real estate term loan solution to pair with the new ABL LOC.

Providing owner-occupied real estate loans from $1MM to $10MM and across all 50 states, Briar Capital Real Estate Fund is the preferred real estate lender of the asset based lending community.







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