Charles Everhardt of Lockwood Property Holdings uses bridgefinancing to keep operations flowing, although he doesn't call theproduct by that name.
Lockwood typically has multiple projects going at one time as itseeks out development opportunities for a group of sophisticatedinvestors. When it spots a deal that might work, it puts theproperty under contract.
At this point in the process Lockwood would be expected to putup soft or earnest money, which could be, depending on the project,millions of dollars.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
