Newport provided a $2.6 million bridge loan to refinance existing debt on a 22,000-square-foot industrial facility. The existing debt on the property was coming due and the borrower needed more time to complete their business plan. Newport collaborated with the borrower during underwriting to understand the viability of their business plan. After thoroughly vetting the plan, as well as the borrower's ability to execute it, Newport became comfortable with the project, and the borrower was able to successfully pay off the loan as planned.
Newport Capital provides efficient capital to owners and developers of residential and commercial real estate assets. Contact us to discuss your financing needs and learn how we help our clients.