Bridge Loan for Retail Repositioning | Cary, NC
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Yieldi has funded a $5,000,000 bridge loan secured by a vacant retail property in Cary, North Carolina, one of the most desirable submarkets in the Raleigh-Durham region. The loan is structured at a conservative loan-to-value (LTV) of approximately 69%, based on a $7.2 million as-is valuation that reflects the asset’s vacant status.
The borrower acquired the property in 2020 for $4.35 million. It was previously leased to Barnes & Noble, and the lease was allowed to expire to enable redevelopment. The loan proceeds were used to refinance a maturing note and provide the borrower with time to reposition the asset for new tenancy.
Located along SE Maynard Road, the property is surrounded by national brands including Lululemon, Dave & Buster’s, and Paris Baguette, and it sits directly across from the future Epic Games global headquarters—a major redevelopment project that will anchor the corridor and drive long-term demand.
Yieldi has worked with this borrower in the past and is confident in their ability to execute. The anticipated exit strategy is a refinance with a conventional lender once the property is leased or stabilized.
This loan highlights Yieldi’s focus on well-secured, short-term real estate opportunities in thriving growth markets with high-quality sponsorship.
Bridge Loan for Retail Repositioning | Cary, NC Details
Structure
- Tax Document
- 1099-INT
- Offering Structure
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BPDNx
SENIOR BPDN - PROMISSORY NOTE SECURED BY COLLATERAL SECURITY AGREEMENTTHIS PROMISSORY NOTE IS SECURED BY THE ISSUER'S PLEDGE OF THE RELEVANT UNDERLYING COLLATERAL LOAN (AS DEFINED BELOW) TO THE LENDER (AS DEFINED BELOW) UNDER THE COLLATERAL SECURITY AGREEMENT AND PROMISSORY NOTE. HOWEVER, EXCEPT TO THE LIMITED EXTENT PROVIDED IN THE PROMISSORY NOTE WITH RESPECT TO THE UNDERLYING COLLATERAL LOAN, THIS NOTE IS NON-RECOURSE TO THE ASSETS, FUNDS AND ACCOUNTS OF YIELDI, LLC (THE "BORROWER", "COMPANY" OR "ISSUER") OR ANY OF ITS AFFILIATES, EMPLOYEES, AGENTS, STOCKHOLDERS, PARENTS, OR SUBSIDIARIES EXCEPT TO THE EXTENT OF THE VALUE OF COLLATERAL LOAN NET PAYMENTS ACTUALLY RECEIVED IN RESPECT OF THE UNDERLYING BORROWER LOAN.
Example Return on Investment
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Why We Like This Opportunity
Bridge Loan for Retail Repositioning | Cary, NC Highlights
Yieldi has funded a $5,000,000 bridge loan secured by a vacant retail asset located in Cary, North Carolina—an area consistently ranked among the most desirable in the Raleigh-Durham region. The subject property, formerly occupied by Barnes & Noble, is currently unleased, offering a clean slate for redevelopment. The conservative loan-to-value (LTV) ratio of approximately 69% is based on a $7.2 million as-is valuation, reinforcing the well-secured nature of this loan.
The borrower originally acquired the property in 2020 for $4.35 million and allowed the existing lease to expire in order to pursue a new vision for the site. The new financing structure provides the borrower with runway to re-tenant or reposition the asset in alignment with evolving retail trends. The funds are being used to retire a maturing note while setting the stage for a longer-term conventional refinance once stabilized.
About the Neighborhood
Located on SE Maynard Road, the property sits in the heart of a dynamic commercial corridor in Cary, directly across from the future global headquarters of Epic Games. This high-profile redevelopment will anchor long-term demand in the area and add prestige to the submarket. The property is also surrounded by a robust mix of national retailers and entertainment destinations including Lululemon, Dave & Buster’s, and Paris Baguette, all contributing to a vibrant commercial ecosystem.
Cary continues to attract residents and businesses due to its excellent schools, infrastructure, and connectivity to Research Triangle Park. As the Raleigh-Durham area experiences rapid population and economic growth, this property is well-positioned to benefit from the spillover effects of increasing consumer demand and investor interest.
Why We Like this Opportunity
Yieldi is pleased to back a repeat borrower with a proven track record of executing successful real estate strategies. This project aligns with our lending philosophy of short-term, asset-backed loans in high-growth markets. The borrower’s strategic foresight in acquiring the asset pre-redevelopment and their deliberate approach to vacating the prior tenant illustrates thoughtful asset management and long-term value creation.
We’re especially encouraged by the low LTV structure and the asset’s intrinsic value based on its prominent location and visibility. The loan structure minimizes downside risk while maximizing the potential for upside through redevelopment or re-lease. The anticipated exit strategy—a refinance once the property is leased or stabilized—represents a logical, achievable path given market dynamics.
Experienced Borrower
The borrower is a successful real estate investor in high-end real estate industry in Florida. He’s sold multiple Florida homes for over $2M+ and has a high net worth and strong liquidity.Investment Summary Of Bridge Loan for Retail Repositioning | Cary, NC
Investors have an opportunity to invest in borrower payment dependent notes, the cash flow of which is dependent on the payment of interest and principal repayment on the Loans. Investors are scheduled to receive an annualized monthly interest payment of Login for details over the Loans' estimated remaining term of 12 Months. Principal is expected to be returned on or before maturity through a refinancing with a traditional bank loan. It is important to note that the Loans are eligible for prepayment, and principal may be repaid prior to the 12 Months estimated remaining term. If the Loans are paid off before maturity, investors are expected to receive at least three months of interest payments in addition to return of principal.
How Do I Get Paid?
This loan had an initial term of 12 Months with an option at Yieldi's discretion to extend. As of June 12, 2025 there are 12 Months remaining. Investors will immediately receive monthly interest payments at an annualized rate of Login for details on the principal balance over the life of the loan. If you invest in this loan in the middle of a month, you will receive a prorated interest payment for your investment for your first investment month and then full monthly payments thereafter. All payments are made automatically via ACH on the 1st of each month and investors all paid by the 10th of the month.
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