Columbus Bridge Lenders for Commercial Real Estate
Are you seeking short-term financing secured by commercial real estate in the Columbus metro area? On this page you'll find a list of select CRE Bridge Lenders that can finance a Columbus 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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Completed Bridge Loan Transactions in Columbus
Refinance Bridge Loan for Multifamily Value-Add Project in Columbus, Ohio
$3,000,000
Gelt Financial, a direct CRE private lender based in South Florida, funded a $3M bridge loan secured by a multifamily property in Columbus, OH. The Borrower owned the property in the mid-2000s and lost it to foreclosure in 2009. However, the foreclosure was being litigated for the past 12 years, so no bank or private lender would consider lending to the Borrower. Gelt provided a 1st mortgage to buy the debt and buy out the partners. Our loan included a $1M hold-back to complete a major renovation on one of the buildings which caught fire in 2020. We estimate the completed value will be around $7M to $8M after the rehab project is completed. We did not require a formal appraisal but did require a 3rd party construction estimate. The Borrower plans to refinance with a long-term loan after completion. This bridge loan was funded in March 2021.
BridgeInvest, a direct private lending firm, recently funded a $9,500,000 1st lien position loan secured by a 150-Room Marriott-branded hotel in Columbus, OH. The hotel underwent a $2,700,000 renovation in 2017 and features an open atrium, restaurant, and lounge plus 5,000 square feet of meeting space. The bridge loan allows the Sponsor to refinance its current loan and stabilize the property’s performance before obtaining longer-term financing. BridgeInvest worked in concert with multiple parties throughout the capital stack to close the transaction and leveraged its direct hospitality experience to project the asset’s future cash flow potential in order to lend based on the property’s stabilized value. The property is centrally located within greater Columbus adjacent to the Buckeye Yard, an impressive logistics node, and within a short drive of Downtown Columbus. This bridge loan was funded in February 2020.
Refinance Bridge Loan for Industrial Property in Columbus, Ohio
$2,100,000
Archway Fund, a direct private lender based in LA, provided a $2.1MM 1st lien position refinance and cash-out loan secured by a large industrial warehouse in Columbus, Ohio. The Borrower required a quick closing to accommodate a partner buyout. They decided to use private money due to their low credit score and delinquent taxes. Also, they needed some cash out to help fix their finances. The exit strategy is to refinance once personal finances are improved. This CRE refinance bridge loan was funded in July 2018.
Bloomfield Capital funded a $7,000,000 bridge loan to refinance a 10-unit office building in Columbus, OH. The Borrower was left at the alter by another lender and needed to fund fast. In addition to paying off the existing 1st mortgage, the Borrower got a little money for tenant improvements and leasing commissions. The property is a quality asset (115,000 square feet) with an estimated value of $11M, located in the best suburban market of Columbus. Bloomfield’s team was able to fund this loan within 2 weeks. The term for this bridge loan was 1 year. This transaction was completed in May 2014.