Briar Capital Closes a $9.5MM Real Estate Loan for an Oilfield Service Provider

Briar Capital Real Estate Fund ("BCREF") (www.BriarCapital.com) is pleased to announce it has provided a $9.5MM real estate term loan to an Oilfield Service Provider in Houston, TX.

While some in the oilfield space are beginning to see evidence of a slowdown, this Houston based company has not. Needing additional working capital to help fuel its growth and support a robust new business pipeline, the company asked BCREF to refinance its existing real estate debt. Unlike a bank, BCREF was able to overlook the high leverage and other challenges associated with this company's business to provide them with a collateral-based loan structured with no financial covenants.

While the $9.5MM BCREF real estate term loan was part of an overall financing package that included a separate working capital line provided by a traditional asset-based lender, a substantial source of the new liquidity was generated from the real estate assets. With the appreciation of property values in the immediate area, the BCREF loan allowed the company to generate liquidity by tapping into and making the most out of their real estate equity.

Providing owner-occupied real estate loans from $1MM to $10MM and across all 50 states, Briar Capital Real Estate Fund is the preferred real estate lender of the asset-based lending community.