Real Estate Transactions

BSP provided a $38.9MM floating-rate bridge loan on a 324-unit, garden-style multifamily property located in Humble, TX. Loan proceeds will be used to retire the existing debt and pay closing costs.

BSP provided a $37.5MM floating-rate bridge loan on a 302-unit, garden-style multifamily property located in Rowlett, TX. Loan proceeds will be used to retire existing debt and pay closing costs.

BSP provided a $34.5MM floating-rate loan on a 257-unit multifamily property located in Greer, SC. Loan proceeds along with sponsor equity will be used to acquire the property, pay closing costs, pay origination fees, and fund the shortfall reserve.

BSP provided a $52.1MM floating-rate bridge loan on three skilled nursing facilities and one assisted living community with a combined total of 736 licensed beds located in Illinois. Loan proceeds will be used to acquire the property, fund an immediate repairs reserve, and pay loan closing costs.

BSP provided a $38.5MM floating-rate loan on a 261-unit, multifamily property located in Saginaw, TX. Loan proceeds will be used to pay off the existing construction loan, fund a shortfall reserve, and cover costs.

BSP provided a $15.9MM floating-rate loan on a 65-bed skilled nursing facility located in Emporia, VA. Loan proceeds will be used to acquire the property, fund an immediate repairs reserve, and pay loan closing costs.

BSP provided an $89.9MM floating-rate loan on a 1.3M SF industrial property located in Middle River, MD. Loan proceeds will be used to retire the existing debt, fund a shortfall reserve, fund capital improvements, future leasing costs, and cover closing costs.

BSP provided a $46MM floating-rate loan on a 245-unit multifamily property located in Mesa, AZ. Loan proceeds along with borrower equity will be used to pay off the existing senior construction debt, fund a shortfall reserve, and pay closing costs.

BSP provided a $26.1MM floating-rate loan on 66-unit multifamily property located in Ardsley, NY. Loan proceeds will be used to retire the existing debt, repatriate equity to the borrower, and pay closing costs.

BSP provided a $134.325MM floating-rate loan on ~1.3MM sf, 10-building industrial property located in Mesa, AZ. Loan proceeds along with sponsor equity were used to acquire the property and pay closing costs. Future loan proceeds will be used for speculative suite buildouts, tenant improvements & leasing commissions, and interest & carry costs during lease-up.

BSP provided a $30MM floating-rate bridge loan on a 146-unit condominium and hospitality property located in Lahaina, HI. Loan proceeds will be used to fund an upfront interest reserve, an operating reserve, a capex reserve, pay closing costs, and return equity to the sponsor.

BSP provided an $82.1MM floating-rate bridge loan on a 450-unit garden-style multifamily property located in Nokomis, Florida. Loan proceeds were used to retire the existing construction debt, fund a shortfall reserve and pay closing costs.