Briar Capital Real Estate Fund (“Briar”) closed a new commercial real estate loan in Illinois to a leading provider of health supplies and services for educational institutions.
Briar provided a $9,350,000 real estate loan facility, primarily structured as a term loan, with an additional revolving component designed to address the borrower’s seasonal liquidity needs. The facility was secured by the company’s owner-occupied real estate and was part of a broader debt recapitalization that also included a traditional asset-based lending (ABL) working capital facility provided by a leading asset-based lender.
Consistent with many of Briar’s successful real estate loan transactions, this opportunity was sourced through multiple channels. Briar was introduced to the deal by a prominent investment banking firm and was also approached by an ABL lender with whom Briar has collaborated successfully in the past.
The transaction was sourced and managed by Jill Kirshenbaum and Jeff Appleton, members of Briar’s Business Development team. Not only did they bring the opportunity to Briar, but they also worked closely with all parties to guide it through the early stages of evaluation. The facility was ultimately closed by Susan Holliday, Briar’s Chief Credit Officer, who led the execution of the transaction through to completion.
Together, Briar, the ABL lender, and the investment banker worked closely to structure a tailored capital solution that leveraged the company’s real estate and other assets. The financing allowed the borrower to refinance existing debt, unlock equity from its underleveraged owner-occupied real estate, and gain access to working capital to support its strategic growth initiatives.
Susan Holliday, Chief Credit Officer at Briar, commented: “What made this transaction truly stand out was the exceptional professionalism, collaboration, and shared sense of urgency demonstrated by all parties. The closing process was remarkably smooth and well-coordinated—a rare achievement in today’s challenging market environment.”