Trevian Capital funds two bridge loans - $24.75 million

Trevian Capital has funded two first mortgage bridge loans totaling $24.75 million. Both loans were made to institutional borrowers. Trevian provided an $8.3 million first mortgage bridge loan secured by a 150-room Comfort Inn and a 200-room Days Inn, both located in metro Washington, D.C. The proceeds from the first mortgage loan were used to recapitalize the properties and to cover a one-time shortfall in operating capital at the corporate entity level, which resulted from a failed organizational change. Trevian also funded a $16.45 million first mortgage bridge for the acquisition and upgrade of a 256,805 s/f shopping center in a prime retail corridor in Raleigh, N.C. Additional proceeds were reserved to fund tenant improvements and leasing commissions for newly signed tenants. Trevian was able to structure the loan in a manner that i) was sensitive to the borrower's short-term financing requirement, ii) provided ample liquidity for repositioning the asset, and iii) rewarded asset-level and cash flow improvements. In addition, Trevian structured around a partial collateral-release in exchange for the addition of new anchor tenants delivered upon closing. Michael Hoffenberg, founder and managing principal, said, "These two transactions exemplify Trevian Capital's reputation as an institutional bridge lending platform catering to the middle market for time sensitive and situational deals nationwide. What is unique about these two deals is that both borrowers were institutional, requiring a lender who could navigate corporate systems and appease their governing bodies. In each case, Trevian was able to craft tailor-made solutions in a timely manner." Trevian Capital provides flexible, reliable and timely first-mortgage bridge lending solutions to the commercial real estate industry with a focus on the $1—$50 million middle market. Trevian Capital lends to borrowers whose needs do not meet conventional timing and/or underwriting guidelines. Trevian Capital specializes in non-traditional financing where expertise, attention to special circumstances, and certainty of execution are critical. With roots in Chicago and New York, Trevian Capital lends nationwide.