Multifamily BRIDGE lOANS

MULTIFAMILY BRIDGE LOANS

  • TRANSITIONAL BRIDGE:  Properties must have in-place cash flow and minimal capex requirements.
  • REHAB BRIDGE:
    • Properties requiring light or heavy renovation, partial, or non-cash flowing.
    • Vacant properties requiring heavy rehab are eligible for strong sponsors.
    • No ground-up construction projects.
    • Non-interest bearing future funding facilities available
  • Quick close transactions.
  • Debt refinancing/restructuring and partner buyouts.

PROPERTY TYPES

  1. Multifamily

TYPICAL TRANSACTION TERMS

  1. Loan Min-Max:  $2MM – $20MM+
  2. Loan to Cost:
    1. Transitional Bridge:   85%
    2. Rehab Bridge:  80%
  3. Maximum Stabilized LTV:  75%
  4. Loan Term with Extensions:  12 – 36 months+
  5. Minimum Yield Maintenance:  Open Prepay with Minimum Interest
  6. Rates:  Starting at 1 Month LIBOR +
    1. Transitional Bridge:  3.5% to 4.0%
    2. Rehab Bridge:  6.5%
  7. Minimum Origination / Exit Fees:  2.5%
  8. Geographic Region:  National except MN, ND, NV, SD, VT, & WV
  9. Guarantors:
    1. Recourse: 
      1. Transitional Bridge:  Non-Recourse with Bad-Boy Carveouts
      2. Full Recourse with, Non-Recourse Case by Case
    2. Minimum FICO:  640
    3. Liquidity/Net Worth:  15%/100% of Loan Request
    4. Bankruptcy:  None in the past 5 years
  10. Reserves (as required):  Interest, Tax, Insurance, TILC, and CapEx

DOCUMENTATION

Click Here
to download and provide the necessary documentation to receive a Conditional Loan Commitment.

1-888-578-5441