CRE Finance: Where to Find the Money
Towards the end of 2019, BH LLC secured a high-leverage, $12-million senior loan on two retail-and-residential buildings in Manhattan’s East Village. At one of the properties, Momofuku Noodle Bar serves as the anchor tenant and is secured in a long-term lease; however, aside from the restaurant tenant, the investment is a value-add play for the company. Fortunately, BH’s finance partners were understanding of the investment. Infinity Real Estate teamed up with BridgeInvest to provide the capital for BH’s $14-million acquisition.
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