BridgeInvest Finances $36.5 MM Cross-Collateralized Loan
1st Priority Mortgage Lien
BridgeInvest closed 2013 by financing a $36.5 MM cross-collateralized loan secured by a complex land portfolio in Broward and Palm Beach counties. The portfolio consisted of over 10 assets comprised of a mix of residential and commercial land and luxury residential homes, which were assembled by a private developer over the past 30 years. The collateral includes 6 residential waterfront lots, a retail center to be developed with frontage on Boynton Beach Boulevard and an 11-acre undeveloped beachfront parcel with frontage to the Atlantic Ocean and the Intracoastal Waterway in prestigious Hillsboro Beach.
The Borrower approached BridgeInvest based on our established ability to close complex transactions in less than 30 days, as well as provide a flexible solution tailored to their specific cash flow needs. BridgeInvest allowed the Borrower to consolidate four outstanding loans facing near-term liquidity events, providing him with the opportunity to strategically develop, market and sell the portfolio to maximize value.
