Stockton Bridge Lenders for Commercial Real Estate
A list of bridge loan lenders for commercial real estate in Stockton. 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 January 2021, BridgeCore Capital closed a $5,100,000 bridge loan secured by a 52-unit multifamily property in Stockton, California.
The borrower recently renovated the entire apartment complex and required a refinance the previous senior and multiple junior liens which had matured and required a swift pay-off, as well as a new second trust deed loan to satisfy outstanding debt.
BridgeCore’s pay-rate bridge product provided the borrower with a 5.50% pay-rate during the entire loan term, with the remaining interest accruing to loan pay-off without compounding interest. The pay-rate structure significantly reduced loan costs and afforded the borrower with additional cash flow to invest in other value-add opportunities.
BridgeCore also assisted in sourcing a new second trust deed lender to relieve the financial burden of the high-cost, subordinate debt that was previously in place.
The loan term was set at 12 months and included one six-month extension option to provide the borrower the necessary time, either to execute an exit strategy through a sale, or to refinance through a conventional lender for long-term financing if a sale is not consummated.
Industrial Building Investment Purchase in Stockton, CA
This Borrower came to Rubicon Mortgage Fund, LLC through a mortgage broker the day in March 2020 that the 5 Bay Area Counties were announced Shelter in Place orders due to COVID-19. She had only 21 days to complete her 1031 exchange purchase of an Industrial Investment in Stockton, CA. Due to the escalating situation with the pandemic her conventional lender had halted their process. The 18,754 square foot Industrial building is situated on a 10.10-acre parcel at a purchase price of $5,000,000 with a long-term national vehicle shipping and transport business as tenant. Rubicon offered Borrower a 1st position, 6-month term with a loan amount of $1,250,000 / 25% Loan to Value. With Rubicon’s expeditious, efficient in-house underwriting and quick adaptation to Shelter in Place, this loan closed in 17 days, as requested by the Borrower, closing 4 days prior to the 1031 exchange deadline.