Briar Capital Real Estate Fund Provides $4.35 Million Real Estate Term Loan to North Carolina Contract Manufacturer

Briar Capital Real Estate Fund (www.BriarCapital.com) announced it has provided a $4.35 million real estate term loan to a contract manufacturer in North Carolina providing utility enclosures/shelters and metal finishings for the automotive and HVAC industries to customers across North America.

The merger of two regional banks created a situation where the purchasing bank no longer desired the borrowers’ lending relationship in their portfolio.  Seeking a quick exit, a national Asset-Based Lender was called to provide the revolving line of credit who then contacted Briar Capital to consider funding a real estate loan on the borrowers unencumbered, owner-occupied real estate.  The Briar Capital real estate loan coupled with new equity from the owner helped retire the bank debt allowing the company to quickly exit the tenuous relationship and afford them time to obtain a new asset-based revolving line of credit. 

The transaction was originated by Briar’s Executive Vice President, Jeff Appleton while the closing was facilitated by Briar’s SVP of Underwriting, Laura Cordero and Briar’s Chief Credit Officer, Sue Holiday. 

With its sole focus on real estate lending, Briar Capital Real Estate Fund is the preferred real estate lender of the asset-based lending community. With a nationwide focus and collateral based underwriting approach, Briar Capital provides owner-occupied real estate loans from $1MM to $15MM.  To learn more, please visit www.BriarCapital.com.