BridgeInvest Funds $8.0 MM Loan for 500-Acre Agricultural Portfolio in Homestead
1st Priority Deed of Trust
BridgeInvest recently closed an $8.0 MM first-priority, cash-out loan secured by a 494-acre agricultural portfolio in Homestead, Florida. The portfolio is comprised of five large land parcels that benefit from their proximity to major road section lines as well as income generated from fruit farms. The sponsor is a foreign national who approached BridgeInvest for a cash-out loan on an expedited basis in order to obtain liquidity for his other business ventures.
Transaction Highlights
Non-Conventional Asset Class
BridgeInvest used its underwriting experience and local knowledge to understand the intrinsic value of the agricultural land.
Foreign Ownership
The loan was tailored to the borrower’s complex organizational structure with foreign owners.
Cash-Out Loan
BridgeInvest closed the cash-out loan on an expedited timetable, which allowed the sponsor to fund his other business ventures in a timely manner.
