An established West Texas energy services company had valuable industrial real estate, but its existing bank structure was limiting flexibility and additional working capital was needed. Flatbay Capital structured $2.5 million in CRE-secured financing to refinance the existing bank facility and provide additional liquidity. The three-year, interest-only line of credit gives the company greater flexibility as it continues operating across its machining, fabrication and oilfield equipment businesses.
The borrower is a portfolio company of a private equity firm that has previously worked with Flatbay Capital, marking the second company within the firm’s portfolio financed by Flatbay.
