Retail Plaza

Kent County, RI

Clubhouse Capital secured a $2.8 million bridge loan to fund a developer’s acquisition at auction of these twin 16,000 sf buildings. The buildings were 90% occupied, mostly with national credit tenants. Given the low price at auction, Clubhouse secured financing for 100% of the auction price, plus accumulated municipal and other priority liens. The loan closed in 30 days. (Spring 2014)