Massachusetts Bridge Lenders for Commercial Real Estate
Are you seeking short-term financing secured by commercial real estate in Massachusetts? On this page you'll find a list of select CRE Bridge Lenders that can finance a Massachusetts 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 Massachusetts
CRE Bridge Loan for Owner-User Warehouse Purchase in Templeton, Massachusetts
$906,750
Stormfield Capital, a technology-enabled direct portfolio lender, funded a $906,750 senior lien position bridge loan for the acquisition of a warehouse in Templeton, Massachusetts. We funded 100% of the $50,000 renovation budget and 65% of the $1,400,000 purchase price, while the Borrower contributed 35% cash to the purchase at closing. The Borrower is a municipal paving contractor and had good credit. They plan to occupy the property upon completion of the rehab and will eventually refinance into a conventional or SBA loan as an exit strategy. The subject property was in good condition and vacant at closing. It is approximately 27,600 square feet set in a 3-acre lot. The interest rate was 12%, and we charged a 1% origination point. The broker earned a $22,000 commission. The loan term was set at 12 months. This CRE purchase bridge loan was funded in May 2023.Â
Bridge Loan for Assisted Living Facility in Tewksbury, Massachusetts
$6,800,000
BridgeInvest, a direct CRE private lender, closed a $6,800,000 acquisition and rehab loan for a 78-bed assisted living facility (ALF) in the Boston suburb of Tewksbury, Massachusetts. The loan allowed the Borrower to close on the uniquely structured purchase in a timely manner as well as fund property improvements so that they could move forward with stabilizing the property. The Borrower is bringing in an experienced operator to assist in managing the lease up and repositioning of the property. The loan includes reserves for property improvements and working capital that will allow the Borrower to add value to the property in addition to streamlining operations during the loan term. BridgeInvest was able to underwrite the asset – an all-memory care facility with a mix of single and double units – to understand the underlying property value and fund the proceeds needed to close on the purchase. We successfully navigated the complex equity structure of the Borrower as well as the unique mechanics of the sale when providing the loan. This bridge loan was funded in June 2019.