Las Vegas Bridge Lenders for Commercial Real Estate
A list of bridge loan lenders for commercial real estate in the Las Vegas metro area - Henderson, Paradise, Boulder City and other areas in Clark County. 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.
Archway Fund, a direct private mortgage lender, provided a $6,400,000 non-recourse bridge loan for the acquisition of an industrial property in Las Vegas. The property size is 64,768 square feet. The Sponsor needed a quick bridge loan for the purchase but also needed funds to renovate the property. They wanted to build out the warehouse for a cannabis tenant. Archway was able to get comfortable with the sponsor's intention to lease the property to a cannabis cultivation tenant. The interest rate on this bridge loan was 8.25% Interest Only. The LTV was 65%, and the loan term was 12 months. As with almost all of our deals, the Sponsor did not have to personally guarantee the loan. This bridge loan was funded in August 2019.
Bridge Loan for Las Vegas 48-Unit Multifamily Property Acquisition
In April 2018, Archway Fund financed a $2.2M acquisition loan secured by a 48-unit multifamily property located in Las Vegas, Nevada. The sponsor required a quick close to accommodate a 1031 exchange and couldn’t get bank financing due to low credit scores and a tax lien. Exit is to repair credit, increase rents and refinance with a permanent loan. 67% LTV, 8.0% Interest Only, 12-month term.
Bridge Loan for 164-Unit Apartment Complex in Las Vegas
In September 2016, Archway Fund provided a $5.75MM short-term bridge loan secured by a 164-unit apartment complex located in the Northeast Sub-market of Las Vegas. The property is comprised of 11 buildings, which totals 168,300 SF on 8.55 acres of land. The subject was in Chapter 11 Bankruptcy, and in need of rescue financing after the lender accelerated the loan under a technical default. Archway Fund worked through the Bankruptcy issues and funded the loan in less than 20 days with no appraisal required.