A bridge loan is a loan for a property that is not cash flowing, to “bridge” the borrower from the un-stabilized property to a conventional stabilized loan.
We lend on empty buildings, buildings with high vacancies, discounted payoffs, and major rehabs (no ground-up construction). We will lend up to 80% of total project cost and offer superior execution.
We will go to 80% of cost on a bridge loan in a Tier 1 market.
Yes, as long as the property has a Certificate of Occupancy.
No, our bridge borrowers should be strong. It is the property that is distressed in a bridge scenario.
Yes, for the full term of the loan.
No, the property can be empty, although we will look at the cash flow on the take-out.
Yes, if the project supports the request.
We charge a $1500 processing fee.
No, we do not collect fees until your loan receives loan commitment, generally 3-5 days from submission of a full package.