Experience Pay Rate Protection™

4.99% Current Interest During Entire Term | Non-Recourse | No PrePay Penalty

BridgeCore Capital is a direct private bridge lender providing short-term loans secured by first trust deeds on commercial real estate in primary markets nationwide.  For qualifying loans, BridgeCore is the leading provider of “Pay Rate Protection,” which reduces borrowers’ monthly payment by paying only 4.99% per annum (“Pay Rate”) for the entire loan term and defers the remaining interest until loan pay-off.

Please note: we do NOT offer loans for residential properties or ground-up construction.

Property Geographic Area Details

Major metropolitan areas nationwide

Loan Amounts

$1,000,000 to $30,000,000

Interest Rates

6.99% to 9.99%

Max Loan-To-Value

65.00%

Max Loan-To-Cost

65.00%

Origination Fees

1% to 2%

Loan Terms

6 months to 18 months

Lien Position

  • 1st

Loan Purpose

  • Investment Acquisition
  • Investment Refinance
  • Improve Subject Property
  • Use Equity to Invest in Another Property

Property Occupancy

  • Vacant
  • Tenant Occupied 100%
  • Owner Occupied Commercial

Property Types and Loan Types

Collateral Types

  • Commercial Property

Property Types

  • Industrial
  • Mixed-Use
  • Multifamily
  • Office
  • Portfolio of Commercial Properties
  • Storage Facility
  • Student Housing

Loan Types

  • Commercial Bridge

Specialty Loan Types

  • Partner Buyout
  • Discounted Note Payoff
  • Bankruptcy Resolution
  • Foreclosure Bailout

Purchase Loan

Max Loan-To-Purchase Price

65.00%

Borrower Must Have Property Under Contract

no

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Equity in Another Investment Property

Details and Requirements

Typical Closing Time (Days)

14

Fastest Closing Time (Days)

7

Works With

  • Brokers
  • Borrowers

Payment Structure

  • Interest Only
  • Payment Rate

Payment Structure Details

BridgeCore's pay rate loans are available for qualifying loan requests.

Payment Rate

4.99% to 4.99%

Pay Rate reduces borrowers’ monthly payment by paying only 4.99% per annum (“Pay Rate”) for the entire loan term and defers the remaining interest until loan pay-off.

Pre Payment Penalty

no

Will lend to a foreign national

yes

Foreign national must have a U.S. bank account, a U.S. Tax ID No, and pass a OFAC background check.

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

yes

Will Consider Collateralizing Multiple Properties in One Loan

yes

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered

  • Individual(s)
  • LLC
  • Limited Partnership
  • Trust
  • Corporation

Documentation Required

  • Credit Report
  • Tax Returns
  • Bank Statements
  • Financial Statements
  • Loan Application

Personal Guaranty (Recourse) Required

Sometimes
Most deals are non-recourse

Credit Check Required

yes

Credit Check Description

We only check credit to evaluate your background in general. Personal guaranty and yield maintenance may be required for second trust deeds/mezzanine loans.

Appraisal Required for Commercial Property

Sometimes

Broker Price Opinion (BPO) Accepted for Commercial Property

Never

Fees

Processing Fee

$1,000 non-refundable. To be paid at the time of LOI signing.

Legal Fee

$1,000 non-refundable legal fee for pay rate loans; $2,500 non-refundable legal fee for second trust deed/mezzanine loans. To be paid at the time of LOI signing.

Settlement Fee

Paid at closing in escrow.

Escrow Fee

Paid at closing in escrow.

Title Fee

Paid at closing in escrow.

Credit Report Fee

To be paid at the time of LOI signing.

Background Check Fee

To be paid at the time of LOI signing.

Extension Fee

If an extension is requested, Bridgecore charges a 1% extension fee for a period of 6 months. Shorter extension periods are available at lower fee amounts.

Environmental Report Fee

Only required if property is industrial or has known or suspected environmental issues.

Fees which are mandatory for all new borrower clients

  • Underwriting Fee
  • Legal Fee
  • Settlement Fee
  • Escrow Fee
  • Title Fee
  • Credit Report Fee
  • Extension Fee

Fees which are charged upfront prior to loan closing

  • Underwriting Fee
  • Legal Fee
  • Credit Report Fee
  • Background Check Fee
  • Environmental Report Fee

Fees which are paid to a third party company

  • Legal Fee
  • Settlement Fee
  • Escrow Fee
  • Title Fee
  • Environmental Report Fee

Founded in 2018, BridgeCore Capital is a direct lender providing short-term bridge loans secured by first and second trust deeds on commercial and non-owner-occupied residential real estate in prime markets throughout the United States.  BridgeCore is the home of “Pay Rate Protection,” which reduces borrowers’   monthly payment by paying only 4.99% per annum (“Pay Rate”) for the entire loan term and defers the remaining interest until loan pay-off.  With a well-recognized and respected reputation in the commercial real estate industry, BridgeCore Capital has an established network of trusted mortgage broker relationships and a well-capitalized investor base.

License

CA DRE Lic. 02066006

Year Established

2018

Associations

  • Southern California Real Estate Alliance - Chairperson
  • Los Angeles Mortgage Association

Office Locations

9171 Wilshire Boulevard, Suite 500, Beverly Hills, California 90210

Primary Capital Source

  • Individual Investors
  • Family Offices
  • Single Capital Partner
  • Foundations

Alternative Capital Sources

  • Asset Management Companies
  • Endowments

Loan Structure for Majority of Loans

  • One Investor One Loan
  • Table Funding with Capital Partner
  • LLC Syndicated Investors

Alternative Loan Structures

  • One Investor One Loan
  • Table Funding with Capital Partner
  • LLC Syndicated Investors
  • Multiple Lender Participation
  • A/B Note Participation with Private Investor

Percentage of company’s lending business focused on private mortgage

100%

Percentage of Loans Secured by Commercial Property

100%

Elliot Shirwo

President

J.D.

Prior to founding BridgeCore Capital in 2018, Elliot managed a private lending business for nearly a decade. Elliot’s real estate finance expertise creating, growing and operating a major, private mortgage lending business provides BridgeCore with a strong and sustainable platform. Elliot previously served as General Counsel and Secretary of Peerless Systems Corporation, a publicly traded company, and as a board member of its foreign subsidiary. He previously was in a private legal practice, handling transactional matters and civil litigation in the areas of insurance, real estate and intellectual property. Elliot earned a B.A. degree in history and art history from the University of California, Los Angeles, and a J.D. from Southwestern University School of Law. He is an active member of the State Bar of California, serves on several trade organization committees, and speaks frequently on real estate finance.

License Information
CA Department of Real Estate Broker - 02011702
State Bar of California - 192521

Leslie Reuter

Credit and Asset Management

MBA

Leslie brings more than 35 years of risk management, asset management and regulatory compliance experience to BridgeCore Capital. Her extensive expertise stems from serving in senior risk and asset management roles at Community Bank, California Bank & Trust, City National Bank and Bank of America. Throughout her career, Leslie has been instrumental in overseeing and implementing credit policies and procedures, underwriting process, and credit review and decision making. Leslie’s breadth of experience in asset management ranges from work out resolution, debt restructuring, bankruptcy negotiation, collections, foreclosure, note sales, and collateral dispositions. In her former roles, Leslie developed solutions to address increased regulatory requirements, including impairment, SOX and operational controls. Leslie earned her MBA from Pepperdine University and a Bachelor of Science degree from Yale University, graduating Magna Cum Laude with Honors in Biology. She is a frequent speaker in the areas of special assets management, receivership, and commercial finance. Leslie also serves on the board of Here to Serve, a local non-profit that focuses on helping families with a critically-ill child, and the advisory board of PlantPure Communities, a national non-profit whose mission is to build stronger, healthier, and more sustainable communities.

Nathan Fransen

General Counsel

J.D.

Nathan is BridgeCore Capital’s General Counsel, overseeing all legal affairs. He has enjoyed a diverse practice since founding Fransen and Molinaro in 2006. Prior to becoming an attorney, Nathan owned and operated a mortgage and real estate brokerage firm, where he developed a deep understanding of real estate and lending laws, as well as the day-to-day challenges facing such businesses. Nathan has represented more than 500 clients in transaction, regulatory and litigation matters, including bankruptcy cases; argued in state and federal courts of appeal; conducted both jury and non-jury trials; and consulted with numerous businesses on a variety of complex legal issues.

License Information
State Bar of California - 242867

David Duner

Tax and Accounting

CPA

David handles all of the Company’s accounting and tax related matters. David has over 35 years of public accounting experience with an emphasis in auditing, tax planning and tax preparation. For the majority of David’s career, he has served the private mortgage industry by providing such services as certified audits of mortgage funds, preparing partnership tax returns and K-1 forms, SEC registration and reporting, and California Bureau of Real Estate trust fund reporting and compliance.

License Information
CA Board of Accountancy - 38072

Roger Pondel

Communications and Investor Relations

Roger directs BridgeCore Capital’s marketing communications and investor relations. Through his nationally recognized firm, PondelWilkinson Inc., he has more than 30 years of relevant financial sector and investor liaison experience, overseeing programs for some of the nation’s leading investment banks, real estate and finance companies, limited partnerships, commercial banks and others. A journalist in his early career, Roger has been the architect of programs for privately owned and publicly traded companies, working extensively with relevant news media, and serving the informational needs of individual and institutional investors.

Completed Transactions

BridgeCore Capital

Private Loan Funding
Cleveland, OH
$8,000,000
Office

Purchase

BridgeCore Capital

Private Loan Funding
New York, NY
$16,500,000
Mixed-Use

Purchase

BridgeCore Capital

Private Loan Funding
Hollywood, CA
$5,500,000
Industrial

Refinance

BridgeCore Capital

Private Loan Funding
Los Angeles, CA
$10,900,000
Multifamily

Refinance

Newmark Knight Frank

"My partners and I have worked with Elliot for many years. He serves as a leading example of reliability, trustworthiness, and capability in the private lending industry in California. He gets the deal done."

Chris Moritz

Meridian Capital

"After knowing and working with Elliot for so many years, I’ve realized how his tenacity and honesty have served him well in building an incredible following in the mortgage brokerage community. At the end of the day, I trust him."

Seth Grossman

HFF

“Elliot is reliable and honest. If he can do something he will tell you and get it done. Just as importantly if it is not a fit he is quick to let you know that as well.”

Jordan Angel

Walker Dunlop

"Elliot's personal level of service towards his clients creates not only a trusting working environment, but also a meaningful relationship for the future. He is a go-to guy for any commercial bridge loan requirement."

Ryan Parker

CBRE

“Elliot is a hand-shake reliable lender who possesses a passion for competing for top-quality loans, which he has translated into a positive-drive perseverance like no other private lender I know. He has developed long-standing industry relationships and is committed to the betterment of the commercial lending business as shown in his consistent volunteer efforts with industry associations and organizations.”

Kevin Randles

Marcus & Millichap

“In each of my multiple past deals, Elliot has always been a preferred lending contact: fair, intelligent, & reliable. Furthermore, with deals that need more monitoring or servicing, he can be entrusted to see the deal through the finish line.”

Bradley Buzil

Northmarq Capital

“I've always known Elliot to live up to his word and honor the integrity of his relationships."

Dennis Sidbury

Before You Contact Us

Our Minimum Loan Amount Is

$1,000,000

What We Do

  • Core Commercial Properties Only
  • Non-Recourse Purchase & Refi Bridge Loans
  • LTV up to 65%
  • 35% Cash Required for Acquisitons

Not Available

  • NO Land or Construction Projects
  • NO Cannabis-Use Properties
  • NO High Leverage Loans
  • NO Residential Properties

Loan Request

Short Description of your Loan Request or Property Address

This information is about yourself, not the subject property.

$
%
months

At the end of the form you can enter the additional properties.

(temp use, storage, billboard, parking, etc.)

$
$
$
$
$
$
$
%

If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

$
%
$
$
%

(temp use, storage, billboard, parking, etc.)

$
$
$
$
$
$
$
%

If Borrower is not seeking additional funds for the renovation, change the Loan Type to Purchase or Acquisition.

$
%
$
$

how will the loan be paid off?

acres

Add links to photos here.

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1
acres

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Add links to documents, photos, etc.

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Before You Contact Us

Our Minimum Loan Amount Is

$1,000,000

What We Do

  • Core Commercial Properties Only
  • Non-Recourse Purchase & Refi Bridge Loans
  • LTV up to 65%
  • 35% Cash Required for Acquisitons

Not Available

  • NO Land or Construction Projects
  • NO Cannabis-Use Properties
  • NO High Leverage Loans
  • NO Residential Properties