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income property > bridge loan
Bridge Loan Program
Bridge financing is ideally suited for the development of new
commercial properties, or the renovation and repositioning of existing
properties, for both pre-leased and speculative development. Most
property types are considered. Loan structures, pricing, loan to cost
ratios and recourse requirements are flexible and will be tailored to
meet the needs and risk profiles of individual transactions. Bridge
loan programs include the following:
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Loan-to-cost of
75% to 85% (up to 100% on pre-leased projects)
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Loan-to-value of
75% on most property types; 65% on special purpose and hotels
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Loans can be
structured with holdbacks for funding of all renovation and/or
construction costs, tenant improvements, leasing commissions, and
interest carry until stabilization.
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Maximum loans are
typically 75% of the stabilized value funded upon achieving
specified occupancy and NOI requirements.
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Loans are
typically non-recourse, except for standard carve-outs.
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Quick closes
available for time sensitive transactions
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12-24 month
interest only typical bridge term. Extension options available.
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Interest rate
typically six month LIBOR plus margins of 3.0% to 4.0%.
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Permanent loan
takeout option can be offered bridge loans with no additional fee.
Please contact an
Account Executive
Rate and
terms subject to change without notice
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