Briar Capital Real Estate Fund Provides $3.5MM Real Estate Loan to an Ohio-Based Food Products Company

Briar Capital Real Estate Fund (www.BriarCapital.com) is pleased to announce the closing of a $3,500,000 real estate term loan to a family-owned food products company, marking Briar Capital's fourth closing in September. The loan is secured by the company's owner-occupied industrial property in Northeast Ohio. The company has been in business for more than 65 years and manufactures specialty food products distributed throughout the United States.

Looking to access the equity in its real estate and generate additional working capital to support the growth of new products, the company was introduced to Briar Capital through a bank referral. Briar's real estate loan closed concurrently with a new asset-based working capital facility, allowing the company to refinance its existing bank debt and access additional liquidity.

"A company that owns unencumbered real estate may have a significant source of capital sitting on its balance sheet," said Jill Kirshenbaum, Senior Vice President at Briar Capital. "In this case, we were able to help the company put that equity to work, creating additional liquidity for the business."

Kristin Yowell, Vice President, Underwriter at Briar Capital, who handled the transaction through closing, added, "This transaction required us to coordinate closely with the company's new working capital lender to bring both facilities together at closing. The result was a financing structure that allowed the company to better utilize its assets and access additional capital to support its growth."

For businesses that have built significant equity in their commercial real estate, their property can be an important source of capital. Briar Capital provides real estate financing that allows companies to put that value to work while maintaining access to other sources of financing.