Georgia Bridge Lenders for Commercial Real Estate

Yieldi, a direct lender for investment properties nationwide, funded a $10,000,000 first-lien position bridge loan secured by 520 acres of vacant land that is currently a mixed-use development in Hampton, GA. The property value was estimated at $40,000,000 so our loan-to-value was 25%. The loan proceeds will be used by one partner to buy out the other partner. They have signed contracts with three major homebuilders secured with $17,000,000 in contract prices. The LDPs (Land Development Permits) should be approved within the next 90 days, allowing the sales to proceed soon after. The Borrower had good credit. Their plan involves development, with an exit strategy of obtaining a construction loan. The interest rate was 14.99%. We charged 3% origination points and the broker earned a $200,000 commission. The loan term was set at 12 months. This refinance bridge loan was funded in June 2024.

Sherpa Capital Group, a direct private lending firm based in Chicago, funded a $2,500,000 1st lien position bridge loan for the acquisition of a 120-unit hotel in suburban Atlanta, GA. We funded 71% of the $3,500,000 purchase price, while the Borrower contributed 29% cash at closing. The timing from Term Sheet to Close was under 3 weeks. The Sponsor plans to convert the hotel into short-term rentals and workforce housing, which will address the growing demand for affordable housing in the area. We are not funding any renovations for the conversion. The subject property was in good condition. The Borrower had excellent credit. They plan to continue leasing the property and eventually refinance with a conventional loan as an exit strategy. The loan term was set at 12 months. This CRE bridge loan was funded in February 2023.

In August 2021, Commercial Capital BIDCO funded a cash-out refinance bridge loan secured by a recently-purchased 18-hole luxury golf course located in Bishop, Georgia. The Borrower needed funds to purchase maintenance equipment for the course as well as working capital for the next year of operation. As of 2020, the tax card valued the property at $2,489,339. Therefore, our $840,000 bridge loan’s loan-to-value is just under 34%. Based on the price that the golf course was recently purchased for, our loan-to-purchase price is approximately 56%. The Borrowers plan to seek permanent financing with a local bank once one year of ownership has been reached. The property consists of 190 acres and is fully operational.