Northern CA Bridge Lenders for Commercial Real Estate
A list of bridge loan lenders for commercial real estate throughout Northern California, including the Bay Area, Wine Country, Salinas Valley, Central CA, Gold Country, Redwood Empire, Emerald Triangle, and other areas.. The lenders in our directory offer bridge loans for a variety of CRE financing, including: acquisition, refinance, cash out, redevelopment, repositioning, recapitalization, 1031 exchange, discounted payoff (DPO), note purchase and other deal types.
In late 2019, Wilshire Finance Partners provided a $3,143,000 bridge loan for the acquisition of a senior assisted living facility in Lodi, San Joaquin County, CA. The borrower consortium consisted of several highly experienced operators that had syndicated equity for this transaction. They identified an older facility in Northern California with a terrific layout and the ability to increase the memory care component of the facility without ground up construction or large structural changes. Combining both new debt capital through Wilshire and capital through the borrower’s syndicated equity, Wilshire structured a facility set aside capital for improvements and operating expense deficits while the property was in transition. The loan-to-value was 75% with a loan term of 36 months.
Refinance Bridge Loan for Northern California Industrial Property
Archway Fund financed a $4.65M refinance bridge loan secured by a 23,000 square foot industrial property in Fairfield, Solano County, California. The sponsor’s mortgage was maturing and they needed a quick close to bridge the gap until the property sells. Archway Fund provided a smooth, quick closing process with non-recourse and no appraisal. We also provided a $1M equity cash out to be used for other investment opportunities. The property was fully occupied, and the loan-to-value was 60%. The interest rate on this bridge loan is 7.99% Interest Only fixed. We charged an origination fee of 1.5 points. The loan term is 12 months with 3 months of guaranteed interest. As with almost all of our deals, the Sponsor did not have to personally guarantee the loan. This bridge loan was funded in July 2019.