Flatbay Capital announces the closing of a $3.3MM loan for a full-service metal distribution center in Houston, secured by a newly constructed 60,000 square foot owner-occupied commercial warehouse facility. With a significant amount of equity in the property, the loan proceeds provided the borrower with enough liquidity to pay off the incumbent lender, cash out for working capital, and funds to allocate towards expansion plans at the subject property.

Flatbay Capital BDO, Vivian Thompson, shared her thoughts on the relationship, “Hardships in the Oil & Gas industry coupled with the effects of COVID-19 left the borrower needing access to capital quickly. Flatbay was impressed with the strong leadership team and solid plans for diversified growth, which equipped us with the necessary confidence to move forward when the banks could not. This bridge loan will allow the company to focus on operations to reach profitability and be on a short path to securing traditional financing in the near future.”

Flatbay Capital provides non-traditional commercial real estate financing solutions ($1MM+), focusing primarily on owner-occupied office/industrial property and/or land. They offer creative deal structuring, competitive rates, and are a valuable partner to banks, asset-based lenders and their clients in all major US markets.