Overview
Inland Mortgage Capital closed a $12,400,000 non‑recourse bridge loan secured by a mixed‑use property in Brooklyn, New York. The 25,575 SF building features a combination of medical office and retail space, positioned within one of the borough’s most dynamic growth corridors. This transaction marks IMC’s first New York closing since relaunching its non‑recourse bridge loan program.
Borrower & Acquisition Background
Earlier in the year, the experienced sponsor acquired the property from a seller with a complex ownership structure, requiring significant effort to resolve title issues. Once the title was cleaned up, the borrower sought IMC’s bridge financing to stabilize and reposition the asset.
Demonstrating strong execution capability, the borrower quickly secured two long‑term leases, validating the property’s appeal and the strength of the surrounding trade area. With leasing momentum underway, the borrower required additional loan term and capital to complete lease‑up of the remaining space.
Market Context
The property is located along a primary retail corridor in a rapidly growing Brooklyn neighborhood. The area continues to experience:
These fundamentals supported IMC’s confidence in the borrower’s business plan and the long‑term viability of the asset.
Loan Structure & Use of Proceeds
IMC provided a non‑recourse bridge loan designed to support both stabilization and future leasing efforts. Loan proceeds will be used to:
Consistent with IMC’s program, interest is not charged on future funding components until the capital is actually advanced, preserving borrower cash flow during the lease‑up period.
Conclusion
This transaction highlights IMC’s ability to structure flexible bridge financing for experienced sponsors navigating complex acquisitions and value‑add strategies. The deal also underscores IMC’s renewed commitment to serving the New York market with responsive, non‑recourse capital solutions.