San Francisco – Cohen Financial, a national real estate capital services firm, today announced that it has secured a $4 million bridge loan for an industrial warehouse facility in Alameda, California. The more than 251,000 square foot facility is fully-leased.
Paul Schroeder, a Managing Director in Cohen Financial’s San Francisco office, secured the loan. The lender is Bolour Associates, a finance company. The borrower is a local commercial real estate developer who has owned the property since the mid 1970’s.
“The borrower needed a bridge loan to facilitate the sale and redevelopment of the property,” said Mr. Schroeder. “Age and historical status were two issues that proved difficult to overcome. However, we worked with the lender who became comfortable with the relative low loan-to-value request and significant upside of the redevelopment of the more than nine acre site.”
About Cohen Financial
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, investment brokerage, loan administration and advisory services. The company was named top originator for specialty finance in the MBA 2012 Commercial Real Estate/Multifamily Finance Firms–Annual Origination Volumes report. Cohen Financial is well recognized as one of the nation’s leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Known for finding innovative solutions to meet client needs, the company recently launched an Equity Practice to help borrowers complete their capital needs and an enhanced Capital Advisory and Valuation Services to assist financial institutions and investors to better evaluate assets and investment opportunities. Cohen Financial serves clients throughout the U.S. from offices in 10 major markets.