Briar Capital Real Estate Fund closed a new $3,800,000 real estate loan facility consisting of a $3,300,000 term loan and a $500,000 revolving line of credit. The facility is secured by the borrower’s corporate headquarters and warehouse in Maine, marking Briar Capital’s first closed transaction in the state.
The borrower is a multi-generation, family-owned footwear company with a deep heritage in design, sourcing, and distribution. The opportunity was referred to Briar Capital by a national asset-based lender who understood the borrower’s desire for a real estate-focused solution to unlock the equity in its owner-occupied property—an asset they believed was underleveraged.
Briar’s new loan structure not only retired the incumbent bank’s working capital facility, but also provided meaningful liquidity while the company explores additional financing options for its other assets.
In recent years, the company has addressed challenges in product development and inventory management. More recently, rapidly changing tariff regulations created buyer uncertainty, delayed order placement, and slowed overseas shipments—contributing to covenant breaches and a default with the bank.
The liquidity generated through Briar’s facility will help the company bring in new product from key overseas vendors—many requiring partial prepayment upfront—ensuring the business can meet customer demand and maintain production continuity.
“This was an ideal opportunity for Briar to step in and provide a real estate-backed solution that generated immediate liquidity,” said Jeff Appleton, EVP of Business Development at Briar Capital, who originated the transaction. “We’re proud to support a heritage brand with a strong reputation and help position them for renewed momentum.”
The transaction was underwritten and closed by Kristin Yowell, who added, “This transaction showcased what we do best. By leveraging the company’s real estate, we delivered a flexible capital solution during a period of transition, giving the company the runway it needs to execute on its plans.”