Briar Capital Real Estate Fund Provides $10.3MM Real Estate Loan to a Florida-Based Seafood Processor and Wholesaler

Briar Capital Real Estate Fund (www.BriarCapital.com) is pleased to announce the closing of a $10,312,500 real estate term loan secured by two owner-occupied cold storage and food processing facilities in Florida.

The borrower is an established seafood processor and wholesaler serving both food-service and retail customers. After a sharp decline in demand during the COVID-19 pandemic, the company repositioned the business by expanding into retail and co-packing operations and investing in its processing and cold storage infrastructure.

As performance began to stabilize, the company’s incumbent bank sought an orderly exit from the credit, creating the need for replacement financing. Briar Capital, with its expertise in real estate lending, was introduced to the opportunity by a trusted referral partner engaged to source a solution. Briar closed alongside a leading asset-based lender, which provided a complementary working capital facility secured by accounts receivable and inventory.

The combined financing replaced the incumbent bank, addressed outstanding payables, and delivered the working capital needed to support the company’s continued turnaround and growth.

“This is exactly the type of situation where Briar adds value, particularly in situations requiring a simultaneous close with an ABL lender,” said Jeff Appleton, EVP of Business Development at Briar Capital. “Cold storage and food processing facilities are highly specialized assets, and very few lenders are comfortable underwriting them—especially in transitional situations like this. Our experience allowed us to quickly assess the real estate and structure a solution that delivered meaningful liquidity when the borrower needed it most.”

Susan Holliday, Briar Capital’s COO and Chief Credit Officer, who led the closing, added, “This was a complex transaction with multiple parties and no margin for error. These are the types of situations where our experience and ability to stay focused on the collateral truly matter. We worked through each challenge to deliver a solution that gives the company stability and a path forward.”

With its singular focus on commercial real estate lending, Briar Capital Real Estate Fund specializes in complex, asset-based situations where experience, speed, and certainty of execution make the difference.