ATLANTA--(BUSINESS WIRE)--Bay Point Advisors announces its engagement in two new Florida developments: The firm provided a $2.85 million loan to BP-OK Dev, LLC (Blue Peninsula), as well as a $4.8 million loan to TVC St. Augustine | Co., LLC (The Velmeir Companies). The acquisition and development loans provide funds for BP-OK Dev, LLC to construct a pad for a Wawa gas station in Fort Pierce, Fla., and TVC St. Augustine | Co., LLC to develop a Wawa gas station and Chick-fil-A in St. Augustine, Fla. Bay Point Advisors was represented by Matthew I. Kramer, a partner at Weinberg Wheeler Hudgins Gunn & Dial in Miami, in both transactions.
These deals are the most recent in a series of transactions in which Bay Point, a privately held firm specializing in short-term, secured lending to small- and medium-sized businesses, has provided funding for high-profile projects in various sectors.
“We are excited to expand our presence in the Florida market and NNN build-to-suit sector. We look forward to continued relationships with developers across the country in providing financing solutions for their acquisition and development needs,” said Mitchell Dagley, Senior Loan Manager, Bay Point Advisors. “Despite the COVID-19 pandemic, we are very pleased that both projects are moving forward as planned.”
“We are proud to represent Bay Point Advisors in these transactions as they continue their great work,” said Kramer. “We are committed to facilitating the successful and timely completion of each of these projects by ensuring all related legal matters are managed properly and efficiently.”
Bay Point lends to small and mid-sized businesses where traditional loan sources do not exist and designs custom funding solutions that meet the unique needs of each business. Examples of secured lending include commercial and residential real estate, development financing, private business funding, bridge loans and debtor-in-possession financing. More information can be found on the firm’s website at www.bay-pointadvisors.com.
WWHGD is a national trial firm that has tried more than 450 cases throughout the U.S. and handled cases in all 50 states and 22 countries. Clients range from Fortune 500 to mid-size and local companies. WWHGD and its lawyers are consistently ranked in Chambers USA, Best Lawyers, Super Lawyers and other prestigious ranking directories. More information can be found on the firm’s website at www.wwhgd.com.