Bridge loans provide the required short-term financing for a multifamily property during a period of reaching stabilized tenancy.
How does it work?
The current loan or debt obligation is replaced with a multifamily bridge loan in an effort to start the project. This type of interim financing is also be used to fulfill time-sensitive demands while permanent financing options are being sought.
If you need a short term loan up to 3 years, a loan amount up to $20 Million, and a quick closing – we can help.
If you want to acquire, rehab or refinance multifamily properties that do not operate at stabilized levels, a bridge loan for an apartment building is a great solution in order to be eligible for future permanent financing.
Eligible Property Types
Apartment buildings with 5+ units
We have an excellent selection of bridge financing solutions to help you get the most desirable rate and terms for your property's needs.
Loan Amount $5 million minimum
Loan Term Generally 1 to 3 years.
LTV maximum up to 80%
Extension options available.
Amortization Determined on a case-by-case basis. Typically interest only-payments.
Minimum DSCR 1.10 "As Is"
1.20 – 1.25 at exit
Lesser DSCRs taken into consideration if payment is supported by pre-funded interest reserves or guarantees
1%-5% commitment fee depending on the program