BankAtlantic recently closed on a 5 year bridge deal for this client. They had a securitized deal fall apart due to the market volatility. We were able to quickly provide a fixed rate loan at a very competitive interest rate (in the mid 5% range) on this 81,000 square foot warehouse facility leased on a long term basis to a non-investment grade tenant. The deal included a 30 year amortization and the ability to expand the property by an additional 20,000 square feet. While the deal included personal recourse it also had a flexible FIXED prepayment payment penalty.
