BridgeCore Secures Financing for Henderson, CO Refi

BridgeCore provided its first financing under its new Middle Market Loan Program. The program was launched in Fall 2023 as an alternative to traditional LifeCo financing. 

The borrower required an expedient refinance of $12,800,000 on a single-tenant industrial property located in Henderson, Colorado, prior to year-end, due to a bank loan that matured at the end of September. The borrower also sought cash-out proceeds for repatriation of capital, which was available with the 64% LTV refinance. 

BridgeCore’s Middle Market Loan Program was recommended by the borrower’s mortgage adviser, given the program’s attractive value propositions: 1) competitive all-in coupon; 2) fixed rate; 3) interest only; 4) non-recourse; and, most importantly, 5) flexible yield maintenance. 

The borrower’s exit strategy is to sell the property over the next two years, making for a perfect fit with BridgeCore’s structured 3-year term loan, with 18-months of yield maintenance.