Bridgeton Launches Technology-Driven Lending Platform, Targeting $ 350 Million In Funding In Year One
Hospitality real estate developer calls on fellow operators as loan demand continues to skyrocket in the wake of COVID-19
Developer and Operator Launches New Technology-Driven Lending Platform for the Hospitality Industry
NEW YORK, September 21, 2021 / PRNewswire / – Private investment firm and development group Bridgeton Holdings LLC launches its non-bank lending platform Capital Bridgeton, specializing in nationwide commercial mortgages for the hospitality industry, multi-family developments, offices, industrial projects, self-storage and construction in new York, as well as key secondary and tertiary markets such as Charleston and Louisville.
As the owner and operator of award-winning properties like Walker Hotels and the new one Marram MontaukBridgeton has witnessed the difficulties properties have in securing proper financing – particularly in the aftermath of COVID-19 – and plans to fill a void in debt capital markets. With strong investor demand, Bridgeton Capital is targeting $ 350 million financing over the first 12 months, expecting rapid expansion in the following months.
“Now is the time to leverage our expertise in commercial real estate and our experience as venture capitalists in proptech,” said Atit Jariwala, founder and CEO of Bridgeton. “There are countless properties with the potential for success; they just need the resources. “
Salomon Garber joins Bridgeton Capital as a partner alongside an advisory board made up of top Silicon Valley tech talent. Garber previously served as the Managing Director of Northeast Bank, responsible for National Origins. David room will serve as the general manager of the platform focused on assemblies and operations. Hall was previously COO of Bridge Funding and Managing Director of CV Capital.
Under the leadership of Jariwala, Garber and Hall, Bridgeton Capital will offer senior secured and non-recourse loans, from $ 1 million To $ 75 million, with a loan-to-value ratio (LTV) of up to 85%. Fixed and floating rates start at 5%. Vacant properties with no cash flow may be eligible.
By modernizing commercial real estate lending and ensuring efficient processes, Bridgeton Capital is a lender with technology. The platform uses data algorithms, artificial intelligence and machine learning to automate investor and broker workflows and to enter deals with greater speed and precision.
To learn more about Bridgeton Capital, please visit www.Bridgeton.com.
Bridgeton Holdings is a private investment firm that creates value by leveraging and leveraging its expertise in operations, capital improvement and development. The company, led by the CEO and founder Atit Jariwala, is dedicated to innovation in office, residential and hotel projects through extraordinary experiences, exceptional service and expressive design. Bridgeton creates spaces focused on improving the individual customer experience – rather than prescribing a lifestyle, the company embraces the lives of customers. The portfolio spans the city and the sea: Walker Hotel Greenwich Village and Walker Hotel Tribeca in New York City and Marram in Montauk. Each property is made up of thoughtful gestures that create warm and welcoming environments for all. For more information: bridgeton.com.
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