Florida Bridge Lenders for Commercial Real Estate
Are you seeking short-term financing secured by commercial real estate in Florida? On this page you'll find a list of select CRE Bridge Lenders that can finance a Florida property purchase, 1031 exchange, refinance, or equity cash out in 1st lien position. We have a separate page for lenders that can fund a rehab / value-add project. The maximum loan-to-value for most CRE bridge loans is 70%, and some lenders can go up to 75% for retail and industrial properties. The max LTV is typically much lower for office, hotels, and specialty property types.Searching...
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Funded CRE Bridge Loans in Florida
Refinance Bridge Loan for Healthcare Properties in Broward County, Florida
$2,700,000
Yieldi, a direct lender for investment properties nationwide, funded a bridge loan for an owner-use office building in Margate, Broward County, Florida. The Borrower purchased the property 18 months ago and runs a profitable home healthcare business out of it. Due to some financial challenges, the existing loan had to be refinanced. The subject property is a two-story single-tenant office building totaling 8,768 square feet of usable space which sits on a rectangular-shaped parcel totaling 21,989 sf (0.50 acres). To reduce the risk for our loan, we took a 1st lien on 3 additional properties which are all owned by the principals of the borrowing entity. With our own in-house valuation, we estimated the total portfolio to be valued at around $5,500,000 so our loan-to-value was 49%. The additional properties all have significant equity and strengthen our LTV. The first is a fully rented office building and the second two properties are single-family homes, located in the city of Parkland, which is just a short drive from the primary property. Yieldi has a personal guarantee from the two owners of the business. Both of them have significant liquidity. They plan to refinance into a conventional SBA loan within 12 months to exit from our loan. This cross-collateralized CRE bridge loan was funded in October 2023.
Purchase Bridge Loan for Office Building in Englewood, Florida
$252,000
Gelt Financial, a direct CRE lender, funded a $252,000 1st lien position purchase bridge loan for the acquisition of an office building in Englewood, FL. We funded 70% of the $360,000 purchase price, while the Borrower contributed 30% cash at closing. The Borrowers approached Gelt Financial because they needed to finalize their purchase and start their business in a new location. They operate a successful cleaning company that services both residential and commercial clientele and wanted to expand into the city of Englewood. It’s a breathtaking beach and ecotourism destination, south of Sarasota and Venice. The subject property is approximately 2,192 square feet set in a 10,000-square-foot lot. It was built in 1994 and was in excellent condition considering a new roof was installed recently. The Borrowers had average credit. They plan to continue occupying the property and pay off our mortgage during the 12-month loan term. The interest rate was 12% floating with amortized payments and we charged 3% origination points. As a no-income verification mortgage, we were able to finalize the closing without requiring an appraisal. This CRE purchase bridge loan was funded in April 2023.
Gelt Financial, a direct CRE lender, funded a $585,000 1st lien position refinance bridge loan secured by a tenant-occupied, free-standing retail building in Fort Lauderdale, FL. The property value was estimated at $800,000 so our loan-to-value was 73%. The Borrower approached Gelt Financial because they needed to refinance their existing mortgage and pay off miscellaneous debts. They had average credit. The subject property is approximately 2,336 square feet set in a 14,375-square-foot lot and is now a cash-flowing retail shop. It was built in 1974 and was in excellent condition considering it was completely renovated 5 years ago. The property is located minutes from Fort Lauderdale International Airport and one mile from 595 and I-95 on a very busy street. The Borrower plans to continue leasing the property, pay off his remaining debts, and eventually refinance as an exit strategy. The interest rate was 12.50% floating and we charged 2% origination points. The loan term was set at 12 months. This CRE refinance bridge loan was funded in March 2023.
Construction Bridge Loan for Unique Property with Seven Cottages in Bradenton, FL
$711,600
In May 2022, i Fund Cities closed a bridge loan secured by a multifamily property in Bradenton, Florida, just South of Tampa Bay. The Borrower heard about iFC through the awesome InvestHER community, that our sharp and skillful loan officer, Caitlin, is involved in. The client wanted to purchase a very unique property consisting of seven cottages and a duplex. Because it was a more complex property, explains Caitlin, “the bank could not quite wrap its head around how to fund it.” When the client came to us, we looked at the project’s profitability and reviewed the experience of the guarantors. Both were very solid. This allowed us to originate a loan on the property, giving the investors the ability to own an amazing opportunity! The purchase price was $680,000. The rehab/construction budget was $201,000. The estimated after-repair value is $1,050,000. Our loan amount is 81% loan-to-cost, and the loan term is 12 months.
Key Benefit to Borrower:
This deal is a perfect example of how iFC’s ability to be flexible in our funding can bring home deals that the bank won’t finance. The bank’s strict underwriting criteria can often disqualify a property like this that falls outside of their standard lending framework.
Customer Feedback:
“Thank you so much for everything. We appreciate all the hard work!”
Cash-Out Bridge Loan for Land Development Project in Davenport, Florida
$10,750,000
BridgeInvest, a direct CRE private lending firm, funded a $10.75 MM 1st lien position pre-development and cash-out bridge loan in the Orlando, FL, suburb of Davenport. The loan’s collateral included three commercial out parcels and 243 single-family lots on 75 acres of land. Two of the three commercial out parcels have recently executed retail ground leases for a national restaurant operator. Outside of the loan’s collateral, the site will also be anchored by a full-service hospital owned and operated by Orlando Health, one of the two major medical service providers in Central Florida. The loan proceeds will allow the Sponsor to finance the horizontal development of the three commercial parcels and also provide it additional liquidity. The property is located within a Florida Development of Regional Impact (“DRI”), requiring a unique analysis of the collateral’s value given complex DRI-related zoning regulations. This is the second loan located in a DRI that BridgeInvest has closed in 2019. The Sponsor is a major South Florida-based development and construction firm that is spearheading development in the area. They were also an existing client that we have provided private financing to in the recent past. This CRE bridge loan was funded in December 2019.
Bridge Loan for Commercial Land Development Project in Aventura, Florida
$5,500,000
BridgeInvest, a direct CRE private lender, funded a $5,500,000 1st lien position bridge loan secured by a commercial land development project (nine contiguous lots totaling 1.36 acres) in Aventura, FL. The loan allowed the Borrower to refinance the existing seller financing and provided time while finalizing their construction plans. The proposed project will be a mixed-use development totaling 118,000 square feet consisting of ground-floor retail, office condos, and a 100-room extended-stay hotel. In addition to the current funding, BridgeInvest provided the Borrower with the option for construction financing once the project plans are finalized. The loan was structured based on the underlying collateral value, despite the lack of existing cash flow. BridgeInvest was able to underwrite the sponsorship’s experience despite their newly formed partnership. This loan was funded in November 2017.
Bridge Loan for Property Portfolio Acquisition in Delray Beach, Florida
$11,237,500
BridgeInvest, a direct CRE private lender, closed four first-priority mortgage loans totaling $11,237,500 secured by a mix of commercial and residential development sites in Delray Beach, Florida – the fastest-growing city in Palm Beach County. The portfolio benefits from its close proximity to the Atlantic Ocean and Atlantic Avenue, the main entertainment corridor in Delray Beach. The loans allowed the Sponsor to continue their aggressive expansion into South Florida after developing a ten-year track record of residential and multifamily projects in the Northeast US. The portfolio is secured by land intended for both residential and mixed-use development, requiring complex analysis performed in a timely manner. We closed three separate loans within thirty days, providing the Sponsor with certainty of execution to take advantage of market opportunities. The fourth loan was funded within one week of the commitment date in order to accommodate the short closing timeline. This loan was funded in October 2017.
Bridge Loan for 500-Acre Agricultural Portfolio in Homestead, South Florida
$8,000,000
BridgeInvest, a direct CRE private lender, closed four first-priority mortgage loans totaling $8,000,000 for a 500-acre agricultural portfolio in Homestead, Miami-Dade County, FL. The portfolio is comprised of five large land parcels that benefit from their proximity to major road section lines as well as income generated from fruit farms. The Sponsor is a foreign national who approached BridgeInvest for a cash-out loan on an expedited basis in order to obtain liquidity for his other business ventures. BridgeInvest used its underwriting experience and local knowledge to understand the intrinsic value of the agricultural land. The loan was tailored to the Borrower’s complex organizational structure with foreign owners. This bridge loan was funded in August 2017.
Bridge Loan for Industrial Land Portfolio in Doral & Hialeah, South Florida
$8,000,000
BridgeInvest, a direct CRE private lender, funded a $8,000,000 1st lien position bridge loan secured by 10-acre land parcels of prime industrial sites in Doral and Hialeah, FL. The Sponsor approached BridgeInvest to leverage their significant equity in the Doral asset to execute a quick closing on the Hialeah asset. Once constructed, the two projects will total approximately 400,000 SF of class-A warehouse space featuring small bays and high ceiling heights. Both properties are located in first-rate industrial submarkets of Miami with vacancies consistently below 5%. BridgeInvest worked with the Borrower to cross-collateralize the properties, allowing the Borrower to acquire the Hialeah property without additional cash investment. Their proximity to key thoroughfares such as Highway 826, Highway 836, and the Florida Turnpike make the investment attractive on a long-term basis due to the decreasing availability of undeveloped land in Miami-Dade County. This CRE refinance bridge loan was funded in October 2016.
BridgeInvest funded a $3,000,000 construction loan for an industrial building development project in Homestead, Miami-Dade County, Florida. Due to outstanding payables, the Sponsor needed to immediately close a new construction loan to avoid the risk of project delays. They also needed a private lender who could underwrite and finance the project even though construction had already commenced. BridgeInvest was able to structure and fund the complex construction loan in approximately 30 days, ensuring the project stayed on track as planned. We increased the loan proceeds by collateralizing adjacent land owned by the Sponsor. Once completed, the property will feature approximately 32,000 square feet of space with attractive features such as 24-foot clear ceilings and multiple loading docks per tenant. The facility is already 40% pre-leased. It is located less than one mile from the Homestead-Miami Speedway and is located within the Homestead Park of Commerce, which is occupied by other noteworthy tenants. The Sponsor is an experienced real estate developer based in South America, and this is their first development project in the United States. This loan was funded in September 2016.