BridgeCore Capital has facilitated a $2.6 million loan to finance the acquisition of a Barnes & Noble property in Medford, OR. The firm rescued a time-sensitive 1031 exchange when the initial financing fell through, and supplied a quick-closing bridge loan without requiring an appraisal report.

BridgeCore’s pay-rate bridge product is providing the borrower with a pay-rate of 7% during the entire loan term to reduce costs, with the remaining interest accruing to loan pay-off without compounding interest. The 12-month term is providing time for the borrower to execute an exit strategy to refinance with a conventional loan.

The Barnes & Noble property, situated in the southern Oregon city, was built in 1996 and is sized at just under 25,000 square feet.

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