Kansas Bridge Lenders for Commercial Real Estate
Are you seeking short-term financing secured by commercial real estate in Kansas? On this page you'll find a list of select CRE Bridge Lenders that can finance a Kansas 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 Kansas
Refinance Bridge Loan for Restaurant in Manhattan, Kansas
$975,000
Commercial Capital BIDCO, a direct lender, funded a $975,000 1st lien position bridge loan secured by a single-tenant restaurant in Manhattan, Kansas. The property value was estimated at $1,500,000 so our loan-to-value was 65%. We paid off a previous loan balance of $784,625 and provided some cash out for property improvements. The funds for this deal will be used to pay down a seller’s note, which will then entitle the Borrower to collect the rent paid by the tenant. We took an interest reserve for the entire 9-month term so the Borrower didn’t have to make any monthly payments. The subject property was in good condition and vacant at closing. It is approximately 2,556 square feet set in a 0.59-acre lot. The Borrower had excellent credit. They plan to lease the property upon completion of the rehab and eventually refinance as an exit strategy. The interest rate was 14%. We charged 6% origination points and the broker earned a $19,500 commission. The loan term was set at 9 months. This cash-out refinance bridge loan was funded in March 2023.