BridgeCore Capital Provides $2.5M Acquisition Loan for Vacant Grocery Store in Indianapolis

INDIANAPOLIS — BridgeCore Capital has provided a $2.5 million bridge loan for the acquisition of a vacant grocery store property in Indianapolis. The loan features a fixed interest rate of 8.5 percent and a 70 percent loan-to-purchase price. BridgeCore says that the loan’s 12-month term provides the borrower with breathing room to pursue a number of potential exit strategies. The options include refinancing the asset upon stabilization with new tenancy or selling the property. The borrower was undisclosed.