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Special Reports
Construction Lending
Grandbridge Seeks to Fill Market Void
Customized products.
Grandbridge Capital LLC, a newly formed company focused on originating middle-market
recourse and non-recourse bridge and construction loans, mezzanine financing and joint venture equity investments,
at press time last month was making plans to launch what it described as its "unique investment platform."
Kirk E. Booher assembled and will direct the new Chicago-based commercial real estate finance company, Grandbridge
said. "We are excited about offering a broad array of custom-tailored commercial real estate finance products
on a national basis," said Mr. Booher in a press release. "Grandbridge expects to find success in this
sector by spanning financial boundaries and filling the market void created by the shift of traditional participants
to larger loan sizes. Grandbridge will deliver recourse and non-recourse debt and equity financing to middle-market
clients as an attractive alternative to recourse bank financing and private 'one off' equity raises.
"Our recourse loans will be a little 'outside the box' in that they'll be
more flexible than those experienced in traditional banking relationships. While our deal focus is in the $3 million
to $15 million range, we will also make JV equity and mezzanine investment transactions of less than $1 million,"
he said. "As a reliable financing source with strong balance sheet capabilities and diversified capital market
distribution channels, Grandbridge's efficient, client-focused closing and portfolio management will enable us
to stake a claim in the marketplace - especially since our customers will be able to count on us to quickly respond
with a reliable 'yes' or an understandable 'no' on every transaction request - an important factor in today's mercurial
market," Mr. Booher said.
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