{"id":1004185644,"date":"2017-08-01T11:59:21","date_gmt":"2017-08-01T19:59:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004185644"},"modified":"2022-12-07T19:38:47","modified_gmt":"2022-12-08T03:38:47","slug":"bloomfield-capital-funds-retail-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bloomfield-capital-funds-retail-loan\/","title":{"rendered":"Bloomfield Capital Funds Retail Loan"},"content":{"rendered":"<p>By Laura Calugar<\/p>\n<div id=\"attachment_1004185654\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/dennis-onabajo.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004185654\" data-attachment-id=\"1004185654\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bloomfield-capital-funds-retail-loan\/dennis-onabajo-800x620\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/dennis-onabajo-800x620.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"dennis onabajo 800&#215;620\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/dennis-onabajo-800x620.jpg?w=800\" loading=\"lazy\" class=\"wp-image-1004185654 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/08\/dennis-onabajo.jpg\" alt=\"Dennis Onabajo \" width=\"300\" height=\"233\" \/><\/a><p id=\"caption-attachment-1004185654\" class=\"wp-caption-text\">Dennis Onabajo<\/p><\/div>\n<p>Bloomfield Capital closed a $3.2 million senior <a href=\"https:\/\/www.commercialsearch.com\/news\/brooklyn-reuse-project-receives-150m-bridge-loan\/\">bridge loan<\/a> for the refinance and renovation of a 30,000-square-foot retail center in Nashville, Tenn. The sponsor is a local real estate development firm that purchased the former single-tenant asset as REO from a bank. The company converted the asset into a multi-tenant retail property. Bloomfield\u2019s loan proceeds refinanced a prior lender and provided the tenant improvement funds necessary to finish the interior build-out.\u00a0<\/p>\n<h2><strong>Flexible bridge capital<\/strong><\/h2>\n<p>Multiple tenants have already signed leases on the space and are waiting to occupy the well-located retail building. Bloomfield\u2019s loan will fund the capital necessary to complete improvements at the property and bring the asset to full occupancy.<\/p>\n<p><em>\u201cOur flexible bridge capital allowed for a generous tenant improvement package at the property, which has attracted strong local and regional tenants. After a short seasoning period, the sponsor plans to refinance our loan with conventional bank debt and hold the asset on its balance sheet for the foreseeable future,\u201d<\/em> said Bloomfield Capital Vice President Dennis Onabajo, in prepared remarks. \u00a0<\/p>\n<p>Since 2008, Bloomfield Capital has funded debt and equity investments in expanding MSAs including Nashville, Denver, Atlanta and Houston. As the Nashville population grew by an average of 100 residents per day last year, demand for new retail development increased consistently, according to estimates from the U.S. Census Bureau.<\/p>\n<p><em>Image via LinkedIn<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Nashville, Tenn., real estate development firm sponsored a $3.2 million senior bridge loan for the refinance and renovation of a 30,000-square-foot retail center in greater Nashville.   <\/p>\n","protected":false},"author":238,"featured_media":1004185654,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,13,36077,21742,21749],"tags":[37050,37051,32915],"class_list":["post-1004185644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-midwest","category-nashville-knoxville","category-latest","category-retail","tag-bloomfield-capital","tag-dennis-onabajo","tag-united-states-census-bureau"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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