NuBridge Commercial Lending, a national commercial real estate bridge lender, entered a $73.5 million, 36-month revolving credit facility with a syndicate of banks, with Cadence Business Finance serving as agent. The bank group also includes Sunflower Bank, Congressional Bank and Dominion Bank.
Cadence Bank originally committed $30 million to NuBridge and increased the facility through syndication. The capital provided under the upsized facility, along with equity capital provided by Trive Capital, a Dallas-based private equity firm, will promote the continued growth of NuBridge’s platform.
“The support of our financing partners is critical to NuBridge’s growth and to building our position in the national small-balance commercial lending market,” Bill Komperda, CEO of NuBridge Commercial Lending, said.
“We are fortunate to work with Cadence and the rest of the bank group on the new credit facility, and we are grateful for their support,” Ed Resendez, president of NuBridge Commercial Lending, said.
“We are pleased to provide NuBridge with a customized lending solution that will support its growth and expansion plans,” David Ellington, director of originations at Cadence Business Finance, said. “We’re excited to partner with Sunflower, Congressional and Dominion to increase the global credit facility to $73.5 million, $23.5 million more than we originally anticipated.”