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Seattle & Northwest  + Oregon  + Retail  |  July 1, 2022
Medford Barnes & Noble Acquisition Gets $2.6M Loan BridgeCore
Mark Nieto
By: Mark Nieto

Medford Barnes & Noble Acquisition Gets $2.6M Loan

BridgeCore Capital has facilitated a $2.6 million loan to finance the acquisition of a Barnes & Noble property in Medford, OR. The firm rescued a time-sensitive 1031 exchange when the initial financing fell through, and supplied a quick-closing bridge loan without requiring an appraisal report.

BridgeCore’s pay-rate bridge product is providing the borrower with a pay-rate of 7% during the entire loan term to reduce costs, with the remaining interest accruing to loan pay-off without compounding interest. The 12-month term is providing time for the borrower to execute an exit strategy to refinance with a conventional loan.

The Barnes & Noble property, situated in the southern Oregon city, was built in 1996 and is sized at just under 25,000 square feet.

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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.
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