BHP's Incoming CEO Visits China Amid Pricing Dispute with CMRG 
Kia Cuts EV Sales Target for 2030 Amid Slowing Demand and U.S. Policy Shifts 
China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs 
Private Credit Under Pressure: Is a Slow-Motion Crisis Unfolding? 
Foreign Investors Pour $18.65 Billion into Japanese Stocks Amid Market Stabilization 
UAE's Largest Natural Gas Facility Suspended After Attack-Triggered Fire 
Pershing Square Bids €30.40 Per Share to Acquire Universal Music Group in $9.4B Deal 
Deere & Company Agrees to $99 Million Settlement Over Right-to-Repair Dispute 
LG Electronics Posts Record Q1 Revenue Amid Strong Demand and Cost Improvements 
Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses 
Disney Plans to Cut 1,000 Jobs Amid Ongoing Restructuring Efforts 
Pony.ai, Uber, and Verne Launch Europe's First Commercial Robotaxi Service in Zagreb 
FedEx Pilots and Union Reach Tentative Agreement on 40% Pay Increase 
Chalco Stock Surges as Q1 2025 Profit Forecast Jumps Up to 58% 
Samsung Electronics Posts Eightfold Profit Surge Driven by AI Chip Demand 
UPS and Teamsters Reach Agreement to Limit Driver Severance Program 
Anthropic Fights Pentagon Blacklisting in Dual Federal Court Battles 
BIRMINGHAM, Mich., Oct. 19, 2016 -- Bloomfield Capital, a national direct lender and specialty real estate finance firm, has announced the closing of a $2.0 million senior bridge loan. The loan proceeds were used to refinance and renovate a historic mixed-use property located in Knoxville, Tennessee.
“Bloomfield’s funds allowed the Sponsor to refinance the existing mortgage which had matured, and provide the capital necessary to begin renovating the property for new tenants,” stated Brent Truscott, a principal at Bloomfield Capital. “Once renovated, the Sponsor plans to move its business into a portion of the property and lease out the remainder of the space.”
Knoxville has seen a recent spike in historic renovations and the adaptive re-use of older industrial buildings. East Tennessee office vacancy rates are hovering around 7.0%, and no large deliveries of office space are planned for the Knoxville market. Class B space is being absorbed by new businesses and existing tenants alike, which is creating a strong market for affordable and flexible office space in the metro Knoxville area.
“Given the flexible layout of this property, and the low tenant improvement requirements to lease space, the Sponsor will have numerous options to re-tenant the building. Bloomfield’s flexible bridge loan will allow for a quick repositioning of this unique mixed-use building,” Truscott added.
About Bloomfield Capital
Bloomfield Capital meets the needs of time-sensitive transactions by specializing in small-medium balance debt origination and acquisition opportunities ($1,000,000 - $15,000,000) with owners, operators and developers throughout the nation.
We offer particular expertise in unconventional financings where industry acumen, local knowledge and attention to special circumstances will result in a substantial financial advantage to the sponsor.
Bloomfield Capital Contact: Erin Bourdic Senior Marketing Coordinator 248-745-1700 [email protected]
