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BridgeCore Capital's Refinancing of a Rocklin Office Complex: Key Details and FAQ
BridgeCore Capital closed a $750,000 refinance of a suburban office in Rocklin, CA, providing cash-out proceeds for improvements and enabling the borrower to sell within a year. The transaction highlights BridgeCore’s ability to deliver fast, certain execution under tight timelines.
BridgeCore Capital closed a $750,000 refinance loan for a suburban office complex in Rocklin, California, which included cash-out proceeds to fund capital improvements at the Rocklin property and another property in Tracy, CA.
The borrower planned to sell the Rocklin property within a year after completing improvements, so a quick and reliable closing was critical to meet their exit strategy timeline.
The borrower is not named, but they needed to refinance an existing loan while obtaining cash-out proceeds for improvements at properties in Rocklin, CA, and Tracy, CA.
BridgeCore Capital provided the $750,000 refinance loan, working with the mortgage advisory team, sponsor, and title company to ensure an efficient closing on schedule.
BridgeCore provides bridge loans on commercial and non-owner occupied residential real estate, including senior, junior, mezzanine debt, preferred equity, and their ‘Bridge Loan Program’ offering flexible terms for loans from $15M to $50M+.
The program offers flexible pre-pay, interest-only, non-recourse, floating-rate financing with one- to three-year terms for loan sizes ranging from $15M to $50M+.
Visit their website at www.bridgecorecapital.com or contact Elliot Shirwo at 310-279-5965 or elliot@bridgecorecapital.com.
Roger Pondel at PondelWilkinson Inc., 424-285-6365 or rpondel@pondel.com.