AstraZeneca’s LATIFY Phase III Trial of Ceralasertib Misses Primary Endpoint in Lung Cancer Study 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
Uber and Baidu Partner to Test Robotaxis in the UK, Marking a New Milestone for Autonomous Ride-Hailing 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
ByteDance Plans Massive AI Investment in 2026 to Close Gap With U.S. Tech Giants 
Italy Fines Apple €98.6 Million Over App Store Dominance 
Niigata Set to Approve Restart of Japan’s Largest Nuclear Power Plant in Major Energy Shift 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role 
7-Eleven CEO Joe DePinto to Retire After Two Decades at the Helm 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Saks Global Weighs Chapter 11 Bankruptcy Amid Debt Pressures and Luxury Retail Slowdown 
Bridgewater Associates Plans Major Employee Ownership Expansion in Milestone Year 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
Moore Threads Unveils New GPUs, Fuels Optimism Around China’s AI Chip Ambitions 
Mexico Antitrust Review of Viva Aerobus–Volaris Deal Signals Growth for Airline Sector 
John Carreyrou Sues Major AI Firms Over Alleged Copyrighted Book Use in AI Training 
BIRMINGHAM, Mich., Oct. 19, 2016 -- Bloomfield Capital, a national direct lender and specialty real estate finance firm, has announced the closing of a $2.0 million senior bridge loan. The loan proceeds were used to refinance and renovate a historic mixed-use property located in Knoxville, Tennessee.
“Bloomfield’s funds allowed the Sponsor to refinance the existing mortgage which had matured, and provide the capital necessary to begin renovating the property for new tenants,” stated Brent Truscott, a principal at Bloomfield Capital. “Once renovated, the Sponsor plans to move its business into a portion of the property and lease out the remainder of the space.”
Knoxville has seen a recent spike in historic renovations and the adaptive re-use of older industrial buildings. East Tennessee office vacancy rates are hovering around 7.0%, and no large deliveries of office space are planned for the Knoxville market. Class B space is being absorbed by new businesses and existing tenants alike, which is creating a strong market for affordable and flexible office space in the metro Knoxville area.
“Given the flexible layout of this property, and the low tenant improvement requirements to lease space, the Sponsor will have numerous options to re-tenant the building. Bloomfield’s flexible bridge loan will allow for a quick repositioning of this unique mixed-use building,” Truscott added.
About Bloomfield Capital
Bloomfield Capital meets the needs of time-sensitive transactions by specializing in small-medium balance debt origination and acquisition opportunities ($1,000,000 - $15,000,000) with owners, operators and developers throughout the nation.
We offer particular expertise in unconventional financings where industry acumen, local knowledge and attention to special circumstances will result in a substantial financial advantage to the sponsor.
Bloomfield Capital Contact: Erin Bourdic Senior Marketing Coordinator 248-745-1700 [email protected]
