LFB recently placed an $18,250,000 loan for the refinance of a maturing construction loan on a skilled nursing and assisted living facility in Dallas, TX. LFB was approached by a national mortgage brokerage firm who was seeking bridge financing for such request. A bridge loan was required as the sponsor still needed to stabilize and season the property prior to a sale or permanent financing. The loan fell outside of LFB’s lending parameters, but given our strong relationships, we were able to place it with one of our capital partners.
Adding to the complexity of the deal, there was also a junior lender in the capital stack who needed to subordinate to the new debt. Through great coordination by the sponsor, brokers, and both lenders, the loan was successfully funded.
LFB prides itself on having strategic lending partnerships which allows us to offer a wide array of loan products to sponsors and brokers. We welcome the opportunity to work with larger brokerage firms to help place their challenging deals.
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