BridgeCore Capital Funds $8.2M Refinancing for Industrial Building in Chino, California

by Amy Works

CHINO, CALIF. — BridgeCore Capital has funded a $8.2 million loan for the refinancing of an industrial property in Chino. The undisclosed borrower required a bridge loan to refinance a maturing loan and to fund a partnership buy-out.

The non-recourse loan features a 6.5 percent pay-rate during the entire loan term, with the remaining interest accruing to loan pay-off without compounding. The pay-rate structure allowed the borrower to decrease the amount of the interest reserve in order to allocate the needed loan proceeds to fund the partnership buy-out.

The 76,421-square-foot property is owner-occupied by a multi-generational luxury furniture manufacturing family.

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