Amount: $7,300,000 • CLTV: 45% • Rate: 8.75%
Property
A portfolio of 16 net-leased, standalone fast-casual restaurant properties distributed throughout key retail corridors across the Southeast. Park 49 arranged $7,300,000 in senior bridge financing to facilitate a time-sensitive estate acquisition.
Scenario
An experienced operator identified a compelling value-add opportunity to acquire a 16-property portfolio of net-leased, standalone fast-food locations across the Southeast. The sale was driven by an estate liquidation following the sudden passing of the family’s patriarch, requiring a firm, expedited closing that traditional bank execution could not satisfy within the mandated timeline. The buyer engaged Park 49 to deliver a fast-closing bridge solution to secure the purchase contract. Park 49 underwrote the multi-site portfolio collateral and structured a $7,300,000 senior bridge facility at a low-risk 45% CLTV. Priced at an 8.75% interest rate, the short-term capital allowed the buyer to complete the estate transaction seamlessly and secured the necessary runway to transition the assets onto long-term, low-cost bank permanent financing.