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Briar Capital Real Estate Fund Closes Largest Loan to Date

April 10, 2020, 08:55 AM
Filed Under: Real Estate
Related: Briar Capital

Briar Capital Real Estate Fund announced the closing of its largest loan to date, a $14 million real estate term loan for a pipeline service provider to the midstream oil & gas industry located in Houston, TX. Looking to generate liquidity in these uncertain times, this longtime pipeline services company sought to leverage their real estate assets for working capital.

Owning and occupying multiple real estate parcels, each with considerable equity, this company required a lender willing to overlook the challenges posed by their existing balance sheet. Unlike the traditional lending community, BCREF was able to disregard the company's financials and focus primarily on the company’s real estate collateral as the primary basis for underwriting the requested loan. Using a conservative real estate loan to value, BCREF was able to provide a collateral based solution consisting of a cash flow friendly long term amortization and a covenant free structure to create $4MM+ in new liquidity.

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