Bridge Loans
Commercial Real Estate Bridge Loans
A bridge is a technological innovation that gets you from one place to another when the route is blocked or impassable. It revolutionized transportation, warfare, and help spread humanity across the planet.
In the same fashion, a commercial bridge loan gets the borrower from his current situation to completion or stabilzation when all other financial avenues are dead ends. Such loans give commercial real estate projects new life
Excelsion has the ability to provide bridge financing to facilitiate the following types of transactions:
- Discounted payoffs on commercial property where the existing lender (or its new owner) is willing to take less than the outstanding balance.
- Tenant Improvements (T.I.’s) to complete lease up and stabilization of an existing project.
- Completion of renovations on existing, income producing property.
Bridge loans run from 12 to 60 months, are interest only, have rates ranging from 10% to 14%, and offer no pre-payment penalties. They take roughly 30 days to fund once we receive a complete package from a borrower and involve a call between the borrower and the lender before an approval can be made. Loan amounts range from $2,000,000 to $50,000,000 and can go higher on a case by case basis. Most commercial projects and residential developments will be considered.
Underwriting issues are the project’s existing cash flow or sales prospects (in the case of homes or condominiums) and the borrower’s exit strategy to repay the loan.
If you are have a scenario similar to one described above, please give us a call (888-578-5441 x81) or send us an email (Info@ExcelsionBrokers.com) to discuss how we might be able to get your client past his or her road block and back to profitability.
