Alpha Alternatives, a commercial real estate capital markets firm, has closed $14.5 million in high-leverage bridge loans for two retail properties located in Colorado and Indiana.
Bloomfield Capital provided financing for the construction and tenanting of both assets.
A $7.5-million loan financed the first property, a 100-percent pre-leased, newly constructed shopping center in Littleton, Colo. Starbucks, Subway and other national credit tenants occupy the 17,000-square foot retail asset.
In Indianapolis, two partially leased strip malls totaling 270,000 square feet also secured financing. The transaction included a $4.5-million bridge loan, with an additional $2.5-million credit facility to redevelop and tenant the property. Both notes have interest rates of 10 percent.
