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BEVERLY HILLS, Calif., Sept. 04, 2019 (GLOBE NEWSWIRE) -- BridgeCore Capital, Inc. today announced that in addition to its uniquely positioned pay-rate product, it has expanded its commercial loan program to include a complementary second mortgage/mezzanine loan product to achieve maximum coverage in the capital stack for borrowers seeking short-term bridge financing on commercial properties.
BridgeCore also announced that it has broadened its geographic scope to include primary and secondary markets throughout the U.S.
“BridgeCore is expanding its product scope to address a gap in the marketplace for second mortgage/ mezzanine financing in the $1 million to $7.5 million loan size range,” said founder and principal Elliot Shirwo. “In addition to broadening our geographic reach, BridgeCore’s expanded loan program will further serve its comprehensive network of mortgage brokers who seek reliable debt solutions that cover the entire capital stack from one funding source.
“We will continue to offer our attractive pay-rate product that reduces a borrower’s monthly interest payment to a current rate of 4.99% per annum for the entire loan term, deferring the remaining interest payment until loan pay-off,” Shirwo said.
“Our objective at BridgeCore continues to be mitigating risk and maximizing return for everyone involved in the lending relationship, while providing distinct advantages that enable commercial real estate investors and developers to successfully execute their business plans with peace of mind.”
About BridgeCore Capital
Founded in 2018, BridgeCore Capital is a direct private bridge lender providing short-term loans secured by first and second mortgages on commercial real estate in primary and secondary U.S. markets. BridgeCore Capital is the home of “Pay-Rate Protection,” which reduces borrowers’ monthly payments by paying only 4.99% per annum (“Pay-Rate”) for the entire loan term and defers the remaining interest until loan pay-off. With a well-recognized and respected reputation in the commercial real estate industry, BridgeCore Capital has an established network of trusted mortgage broker relationships and a well-capitalized investor base. BridgeCore Capital is licensed by the California Department of Real Estate, Corporation License ID No. 02066006.
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BridgeCore Capital, Inc.