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ATWATER, CALIF. — BridgeCore Capital has funded a $12.4 million loan for the purchase of a retail center in Atwater.
The undisclosed borrower required a bridge loan to acquire the fully occupied, grocery- and pharmacy-anchored retail center. The borrower was unable to secure traditional financing that provided flexibility to allow for the sale of individual parcels of the property during the loan term.
BridgeCore was able to provide a loan with a 6.9 percent interest rate and 24-month term, including two six-month extension options.