Brick Realty Capital LLC, through an affiliate entity, provided acquisition financing of $8.5 million to a private investor for the purchase of a non-performing mortgage and note. The collateral consists of a first mortgage that encumbers a 55,000 s/f retail shopping mall. The interest only loan is for a two-year term and was funded within five days of application.
This transaction is representative of Brick's continuing commitment to provide bridge financing for the purchase of non-performing debt and exemplifies its ability to act in a swift and resolute manner. Tags: