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Jun

02

DoubleLine to Make Bridge Loans on Commercial Sites

By Tony Seruga

Jeffrey Gundlach, chief executive officer of Doubleline Capital LP. Photographer: Patrick T. Fallon/Bloomberg

Jeffrey Gundlach’s DoubleLine Capital is teaming up with a commercial lender to provide direct loans on properties such as office buildings, hotels and shopping centers as it seeks to fill a vacuum left by banks.

DoubleLine will buy bridge loans originated by Thorofare Capital, a Los Angeles-based firm that that finances commercial real estate transactions bypassed by big lenders. The loans, often made to small developers who want to purchase and renovate underperforming properties, will range in size from $5 million to $20 million and mature in two to five years, according to a statement that will be released Tuesday…

DoubleLine to Make Bridge Loans on Commercial Sites

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