bridge
Bridge Loan, Short Hills, New Jersey - Racquets Club Acquisition
Short Hills, New Jersey
Client : A local real estate developer pursuing a time-sensitive opportunity.
Transaction : Acquisition bridge loan for The Racquets Club of Short Hills, New Jersey.
Challenge : Traditional banks weren’t a fit given the timing and structure.
Opportunity : The sponsor plans to modernize the facility and add amenities supporting year-round athletic and social programming.
Action : Sherpa Capital Group closed the acquisition bridge loan, expected to be taken out with an SBA construction loan. Banks passed. We closed.