Briar Capital Real Estate Fund closed a $14 million real estate term loan for a pipeline service provider to the midstream oil and gas industry located in Houston. The loan was Briar Capital Real Estate Fund’s largest loan to date.
The pipeline services company sought to leverage its real estate assets for working capital. Briar Capital Real Estate Fund was able to disregard the company’s financials and focus primarily on the company’s real estate collateral as the primary basis for underwriting the requested loan. Using a conservative real estate loan to value, Briar Capital Real Estate Fund was able to provide a collateral based solution consisting of a cash flow friendly long term amortization and a covenant free structure to create $4 million in new liquidity.
Briar Capital Real Estate Fund is a collateral-based lender focused exclusively on providing owner-occupied commercial real estate loans to asset-based borrowers.
