Bloomfield Capital Provides $7.0 Million Senior Bridge Loan on Manufactured Housing Portfolio

Bloomfield Capital Announces the Closing of a $7.0 Million Senior Bridge Loan

BIRMINGHAM, MI / ACCESSWIRE / August 1, 2023 / Bloomfield Capital announces the closing of a $7.0 million senior bridge loan, which was used to refinance a portfolio of three manufactured housing communities in the Midwest.

The Sponsor, an experienced owner/operator of manufactured housing communities throughout the Midwest, required a new senior bridge loan to refinance a maturing loan and provide additional capital to fund planned improvements at the three properties.

"We have recently closed several transactions within the manufactured housing space," stated Renee Lewis, a Managing Partner at Bloomfield Capital. "Quality manufactured housing communities continue to provide affordable home ownership options as many tenants are priced out of the single-family residential space," Lewis added.

The Sponsor plans to complete a capital expenditure plan at the portfolio, stabilize occupancy, and refinance Bloomfield's bridge loan with permanent financing in the next 12 months.

Bloomfield Capital is a direct lender and equity investor in commercial real estate assets nationwide. With offices in Detroit, Denver, Chicago, Portland, and NYC, Bloomfield Capital's team draws from a broad base of commercial real estate and finance experience. The firm provides debt and equity solutions to meet the demands of time-sensitive and complex transactions. Bloomfield Capital specializes in small- to medium-sized financings from $3-30 million in the form of bridge loans, mezzanine loans, and preferred equity investments.

For more news and information, or to contact us, please visit www.bloomfieldcapital.com.

Contact Information

Brent Truscott
Partner
btruscott@bloomfieldcapital.com
877-690-7111

SOURCE: Bloomfield Capital

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