Briar Capital Real Estate Fund Provides $4MM Real Estate Loan to a New York-based Transportation Company

Briar Capital Real Estate Fund (www.BriarCapital.com) is pleased to announce the closing of a new $4MM commercial real estate loan in New York to a business providing warehousing and transportation services in the Northeast.

During COVID, revenues for this transportation business materially declined and business has yet to fully return to pre-pandemic levels. Expenses have increased significantly because of rising inflation and those increases have outpaced the company’s new contracts and renewals, having a direct effect on their bottom line. With their P&L in the red, relations with the existing bank became strained culminating with the bank freezing the company’s two lines of credit and formally requesting they move the relationship.

Facing a liquidity crunch, the business turned to a well-known, national turnaround consulting firm to help them to right the ship. Needing a new lender with patent capital, the turnaround firm immediately reached out to Jill Kirshenbaum, Senior Vice President at Briar Capital, to finance the company’s multiple commercial real estate holdings.

“We couldn’t be more pleased to have been called about this opportunity and to be part of the financing solution for this incredible company,” said Jill. “Not only did our $4MM real estate loan refinance the bank, but we generated excess funds over and above the existing debt that were used to pay delinquent property taxes and for working capital within the borrower’s business.”

Leah Golberg, Briar’s CFO who worked on the closing, said “We pride ourselves on providing customized real estate financing solutions to businesses coast to coast. Unlike most lenders, we are not a cookie cutter shop. Each deal is unique, and we believe so to should be our financing solution.”   

With its unique, singular focus on real estate lending, Briar Capital Real Estate Fund has become the go to real estate financing source for turnaround consultants and others in the asset-based lending community. Using a collateral-based approach and the most competitive non-bank pricing around, Briar Capital provides owner occupied, commercial real estate loans from $1MM to $15MM with LTV's as high as 65%.