Multifamily Loan (Bridge to Bridge)

[Maureese Jones]

Just put under application a bridge to bridge refinance for a multifamily loan, $17 million loan.

This is the second bridge to bridge that we are doing in the last month.

It’s very common in today’s environment that not only are deals too tight for an Agency exit today, but the value add business plan was delayed for any reason whether it was a change in management, slower lease up than anticipated, and now the property is trending positively each month towards Proforma numbers, but needs a bit more life, there are ways to get it done!

In this particular example we put the deal under application underwriting to a HUD exit with a great execution bridge lender who we have closed with in the past.

This bridge loan will position our client (who is very experienced and seasoned in this market) to successfully continue lease up and manage rent increases up to market until the property is primed for the HUD take out.

If you are experiencing a similar story with any of your multifamily assets, please don’t hesitate to reach out directly, and we will work to identify if there is a solution to revitalizing your deal with perhaps a new Bridge loan until it is fully stabilized for agency or HUD.

Maureese Jones | Commercial Mortgage BrokerCell: 717-881-3358 | Website: gparency.com

Address: 481 Oak Glen Rd, Howell Township, NJ 07731Follow me on LinkedIn