BridgeCore Capital, a provider of structured loan products for commercial and non-owner occupied residential real estate in the U.S., launched a new bridge loan program to finance vacant 99 Cents Only Stores across the U.S.
BridgeCore Capital, a provider of bridge loans on commercial and non-owner occupied residential real estate, hired Cory Gitt as managing director of loan originations. Gitt was most recently on Guggenheim Partners’ commercial real estate lending team.
BridgeCore Capital closed a $2.5 million bridge loan to finance the acquisition of a vacant, single tenant, grocery-anchored property in Indianapolis. BridgeCore helped secure the purchase within a tight, closing timeframe without an appraisal report, when the borrower’s competing lender could not execute.
Lauren Smyle joined BridgeCore Capital as senior director of loan originations. In this newly created position, Smyle will be responsible for overseeing loan originations on commercial real estate in markets served by BridgeCore throughout the United States.
BridgeCore Capital expanded its commercial loan program to include a mezzanine loan product to achieve maximum coverage in the capital stack for borrowers seeking short-term bridge financing on commercial properties.