Bridge
Posted 9d agoBridge loan for retail strip center
$1,250,000
Location
Austin, TX
Target rate
10.25%
Term
2 yr
Property type
Single family
Property & underwriting
- Occupancy
- Non-owner occupied (investment)
- Lien position
- 1st lien
- As-is value
- $1,923,077
- LTV (as-is)
- 65.0%
- Exit strategy
- Refinance to conventional
- Borrower experience
- 4-10 deals completed
- Borrowing entity
- LLC
- Funding timeline
- 2-4 weeks
- Additional collateral
- Commercial retail
Use of funds
Acquisition
Deal summary
Seven-tenant strip center at 82% occupancy. Bridge to agency financing after lease-up.