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BridgeCore Capital Closes $3.6 Million Purchase Loan on 7-Eleven/Taco Bell

Beverly Hills, CA – (NewMediaWire) – March 14, 2022 – BridgeCore Capital, Inc. today announced it has closed a $3.6 million loan on a built-to-suit 7-Eleven in Santa Ana, Calif. and a Taco Bell in Warsaw, Missouri.

The borrower required a bridge loan to finance the purchase of a to-be-built 7-Eleven, cross-collateralized with a free-and-clear Taco Bell. 

Time was needed for the seller to complete the vertical construction of the 7-Eleven and obtain a certificate of occupancy before the borrower executes an exit strategy of a conventional refinance. The borrower offered a free-and-clear Taco Bell in Missouri as cross-collateral in order to manage leverage on the southern California-based 7-Eleven’s yet-to-be realized full value. 

The 12-month term with six months of yield maintenance is allowing the seller of the 7-Eleven to complete its construction of the built-to-suit on behalf of the borrower, and to meet its delivery obligations to 7-Eleven. 

The lender’s collaboration with the borrower’s investment sales and mortgage advisers on seller- related due diligence, plus two separate title teams to secure tie-in coverage for properties in multiple states, facilitated the consummation of this multi-faceted purchase transaction. 

 

About BridgeCore Capital

BridgeCore provides short-term loans ranging from $1 million to $60 million oncommercial real estate in prime U.S. markets, including origination of senior debt and purchase of non-performing loans secured by first trust deeds. Additionally, borrowers throughout the nation can take advantage of BridgeCore’s unique “Pay-Rate Protection” product, which reduces monthly payments to as low as 4.99% per annum (“Pay-Rate”) for the entire loan term, deferring the remaining interest until loan pay-off, without compounding interest. For more information, visit www.bridgecorecapital.com.  

 

For More Information, Contact:                                                                                      

Elliot Shirwo, BridgeCore Capital                                                                                                                                                      

310-426-8751, elliot@bridgecorecapital.com

Media, Contact: 

Roger Pondel, PondelWilkinson Inc. 

310-279-5965, rpondel@pondel.com                                    

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