NuBridge Commercial Lending, a national commercial real estate bridge lender, entered a $73.5 million 36-month revolving credit facility with a syndicate of banks, with Cadence Business Finance serving as agent. The bank group also includes Sunflower Bank, Congressional Bank and Dominion Bank. Cadence originally committed $30 million to NuBridge and successfully increased the facility through syndication. The capital provided under the upsized facility, along with equity capital provided by Trive Capital (a Dallas-based private equity firm), will allow NuBridge to build upon the company’s early success and will promote the continued growth of the platform.
“The support of our financing partners is critical to NuBridge’s growth and to building our position in the national small-balance commercial lending market,” said Bill Komperda, CEO of NuBridge. “We are fortunate to work with Cadence and the rest of the bank group on the new credit facility, and we are grateful for their support,” added Ed Resendez, President of NuBridge.
Source: Business Wire
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.