These terms are from a specific lender and do not reprersent a quote and final terms as they vary from loan to loan.
BRIDGE LOAN DESCRIPTION: Nationwide bridge lending platform targeting transitional, value-add and event driven commercial and multifamily properties.
LOAN AMOUNT: $1MM to $25MM (larger on a case-by-case basis)
LOAN TERM: Generally, 1-3 years plus extensions; up to 5 years.
Core: Multifamily, office, retail, industrial, mixed-use.
Non-core: Self-storage, student housing, hospitality, residential and commercial.
INTEREST RATE: Generally, 5.00% - 6.00%+ over LIBOR. Fixed rate available. Higher rates may be required by some lenders.
DSCR REQUIREMENT: None. Partial or non-cash flowing assets.
AMORTIZATION: Interest only; amortization structured on a case-by-case basis.
FUTURE ADVANCES: Tenant improvement, leasing commissions and capital expenditures.
EARN OUT: Available on a case-by-case basis.
RECOURSE: Usually required.
PREPAYMENT: Freely pre-payable. Minimum interest may apply.