Briar Capital Real Estate Fund closed a new $2.3 million commercial real estate loan in Georgia to a Tennis and Aquatic Recreational Facility. The transaction was a refinance of a 6-year-old seller note where the seller desired to exit the debt to focus on other opportunities.
 
Introduced to this prospect by Simple Commercial Capital, a boutique capital advisory firm, Briar Capital Real Estate Fund stepped in to quickly underwrite and close the transaction to meet an ambitious timeline. Not only did Briar Capital refinance the existing seller mortgage, but they also provided additional liquidity to be used for working capital and property improvements all while rolling in the closing expenses to limit the borrowers out of pocket costs.
 
Jeff Appleton, Briar Capital’s EVP for National Business Development who sourced the transaction said, “While a good portion of our business consists of your typical owner-occupied, commercial real estate facilities, Briar Capital has become the go to lender in the commercial finance industry for unique real estate lending opportunities such as this. I doubt many other lenders would have had the ability to get their arms around this transaction as quickly as we did and close this loan facility in a timely manner. Many thanks to Briar Capital’s stellar underwriting team of Laura Cordero and Kristin Yowell who spearheaded the closing and worked diligently to get this opportunity across the finish line.”