FAQ: BridgeCore Capital's $1.8M Multifamily Refinance in Berkeley, Missouri
Summary
BridgeCore Capital closed a $1,800,000 refinance for a 44-unit multifamily complex in Berkeley, Missouri, helping the borrower resolve technical defaults and avoid additional default interest through expedited closing and creative problem-solving.
What is the main announcement in this content?
BridgeCore Capital has closed a $1,800,000 refinance of a 44-unit, two-story multifamily complex built in 1957 located in Berkeley, Missouri.
Why did the borrower need this refinancing?
The borrower needed to quickly extricate itself from an existing loan due to multiple technical defaults resulting from complexities with the existing agency lender.
How did BridgeCore Capital help resolve the borrower’s challenges?
BridgeCore used its comprehensive resources and experience to meet critical timing challenges, solving insurance and entity-related specifications while providing competitive loan terms and coordinating with mortgage advisors and title companies for expedited closing.
What were the key benefits for the borrower from this refinance?
The borrower avoided accruing additional default interest and was able to pursue its business plan by freeing itself from countless servicing impediments through the expedited transaction.
What unexpected issues did BridgeCore solve during the process?
BridgeCore addressed several ancillary issues including removal of one guarantor, adjusting the insurance coverage period at loan commencement, and restructuring an entity certification into a written consent.
What types of financing does BridgeCore Capital typically provide?
BridgeCore provides bridge loans on commercial and non-owner occupied residential real estate, including senior, junior and mezzanine debt, preferred equity, and their Bridge Loan Program with flexible terms from $5M to $100M+.
When was this transaction announced?
The announcement was made on October 7, 2025.
Where is the financed property located?
The 44-unit multifamily complex is located in Berkeley, Missouri.
Who should I contact for more information about BridgeCore Capital?
For company information, contact Elliot Shirwo at 310-748-4414 or [email protected]. For media inquiries, contact Roger Pondel at 310-279-5965 or [email protected].
Where can I find more information about BridgeCore Capital’s services?
More information is available at www.bridgecorecapital.com, and the original release can be viewed on www.newmediawire.com.
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