Case Real Estate Capital Funds $12m Bridge Loan
ROCHELLE PARK, NJ/BONITA SPRINGS, FL — Case Real Estate Capital, LLC (Case) has funded a $12 millionbridge loan secured by a mixed-use land site located in Bonita Springs, Florida. The commercial real estate investment firm has a $100+ million lending and purchasing platform and is active in South Florida.
“This loan provides the borrower with the flexibility and time needed to successfully execute his business strategy,” said Sanford Herrick, founder and managing principal of Case, which is headquartered in northern NJ. “At Case, we bring decades of experience to complex transactions like this and have particular expertise handling assets located in South Florida.”
Economic and business forecasts predict that the Fort Myers-Marco Island metropolitan statistical area (MSA) will experience robust growth over the next year. Steady in-migration, the aging-in-place of existing cohorts and the presence of important service industries will make this MSA an above-average performer versus other U.S. MSA markets over the long term.
Case continues to ramp up investment activities
Responding to the middle market’s need for smart situational capital, Case provides financing solutions for a range of transitional assets, including land, multi-family, industrial, retail and office assets. The company concentrates on deals in the $2.5 million to $30 million range for properties located in the metro New York area and South Florida. Its funds can be deployed as note purchases, bridge and acquisition loans or rescue and restructure capital.
Case continues to steadily ramp up investment activities, and in 2016, it entered into a joint venture agreement with a New York-based real estate credit fund. “This is our fourth transaction with our JV partner,” added Herrick.