BridgeInvest Funds $3.5 MM Industrial Refinance Loan in Charlotte

BridgeInvest recently closed a $3.5 MM refinance loan for a 148,000 square foot industrial facility located in Kannapolis, North Carolina, a suburb north of Charlotte. The property was most recently used as a high-spec, FDA-approved pharmaceutical manufacturing plant with clean-laboratory, office and warehouse space. The sponsor will use the loan proceeds to pay off existing loans and prepare the asset for disposition.

Transaction Highlights

Vacant Property
The property is currently vacant and not cash flowing as the owner lists it for sale.

Unique Asset
A former pharmaceutical manufacturing plant, the property benefits from significant high-spec equipment throughout the asset.

Quick Execution
BridgeInvest executed and closed the transaction in a few weeks to meet the sponsor’s needs.

Asset Based Loan
The sponsor was a business owner with limited commercial real estate experience. Hence, the Loan was structured based upon the real estate collateral only.