California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

California  + San Diego  + Retail  | 
BridgeCore Funds Retail Property in Escondido

BridgeCore Funds Retail Property in Escondido

BridgeCore Capital has refinanced a Family Dollar-anchored retail center in Escondido, CA for $2 million. The borrower required a bridge loan to refinance a matured loan and to obtain cash out funds, which BridgeCore closed in one-and-a-half weeks.

The borrower needed the cash out funds to resolve a mechanic’s lien, pay-off delinquent property taxes and cover upgrades and renovations to a pair of the units. BridgeCore’s bridge product provided a 6.50% pay-rate during the entire loan term, with the remaining interest accruing to loan pay-off without compounding interest. The company was also able to include a six-month extension option on the 12 month loan term, providing the borrower enough time to execute an exit strategy to sell the property.

Connect

Inside The Story

BridgeCore Capital

About Mark Nieto

  • ◦Financing
Chase-08-cube
Chase-08-cube
New call-to-action