A list of bridge loan lenders for commercial real estate in Ohio. 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.
Avatar Financial Group, a direct private mortgage lender, funded a $1,400,000 bridge loan for the acquisition of a retail center in Dayton, Ohio. The sponsor is a foreign national investor that required a quick close. Avatar was able to provide the funds requested to close the transaction prior to the year-end deadline. The sponsor contributed 30% cash to the closing, and Avatar funded 70% of the purchase price. Our interest rate was 8.99% and the loan term was 24 months. The deal was brought to us by a mortgage broker to whom we paid a commission of $22,000. This CRE bridge loan was funded in December 2019.