Stonebriar Commercial Finance (“Stonebriar” or “the Company”) today announced the closing of a $64.5 million construction-to-permanent real estate financing with a premier real estate developer. This 85% loan-to-cost mortgage will finance the development of a triple-net, build-to-suit property for a tenant that the developer has successfully partnered with on prior projects.
The Company has creatively addressed various transaction nuances including upsizing for tenant change orders and the potential release of excess land post-closing.
Greg Burns, Stonebriar Managing Director stated, “This opportunity plays to Stonebriar’s strengths of providing flexible capital to proven developers with strong tenant relationships. Our financing structure is designed to be programmatic with this specific tenant and has already resulted in dialogue on four additional projects that could increase total fundings to the low nine figures.”
Jeff McCoy, Stonebriar Vice President, added, “The fundamentals of a strong sponsor, market leading tenant and essential real estate allowed for a timely approval and efficient closing.”
About Stonebriar Commercial Finance: Stonebriar, an Eldridge business based in Plano, TX, is an investment grade provider of financing solutions for businesses in a wide variety of industries, of various sizes and credit profiles. Stonebriar leases and finances assets located primarily in North America and select other jurisdictions worldwide currently through 5 distinct platforms—General Equipment, Aviation Capital, Rail Leasing, Real Estate and Sponsor Finance. To learn more about Stonebriar Commercial Finance please visit www.StonebriarCF.com.
About Eldridge: Eldridge invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media & Music, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge, please visit www.eldridge.com.
For more information contact:
Greg Burns: (952) 449-5194 Greg.Burns@StonebriarCF.com
