Briar Capital Real Estate Fund Provides $10.8MM Commercial Real Estate loan to an Industrial Tool Supplier

Briar Capital Real Estate Fund (www.BriarCapital.com) is pleased to announce the closing of a new $10.8MM commercial real estate loan to a 30+ year old industrial tool supplier in Georgia. 

The business was referred to Briar Capital by the company’s asset-based working capital lender after they learned the borrowers existing mortgage holder, a large regional bank, desired to exit the relationship. Given the company’s recent financial performance, the ABL lender knew another bank was not the solution and instead needed a real estate-focused asset-based lender like Briar Capital.

Larry Ellis, Briar’s Senior Vice President who originated the transaction said, “It is an absolute honor to be brought into situations like this by an ABL partner, especially when that partner already has money in the deal. I feel it is a strong testament regarding our ability to work well with other lenders in the capital stack as well as a positive endorsement of our industry leading, real estate product offerings.”     

Not only did Briar’s mortgage refinance the bank’s real estate loan, but it created an excess of funds which were used to help address a related personal obligation of the owners and satisfy past due payables within the business.

Briar’s Chief Credit Officer, Sue Holliday, who skillfully worked alongside the existing ABL lender, an additional lienholder, and ownership to close the deal said, “There were several unexpected twists and turns that we had to collectively navigate however we are very pleased to get this one across the finish line. The liquidity we were able to generate using their real estate should help alleviate the occasional cash flow struggles they experience due to unexpected payment delays with specific customers.”

Briar Capital provides real estate loans nationwide up to $15MM and is a trusted lending partner to both the asset based and traditional lending communities. Using collateral based underwriting and drawing on its depth of real estate lending expertise, Briar Capital helps provide working capital using owner-occupied real estate as collateral when conventional lenders will not.