Oklahoma Bridge Lenders for Commercial Real Estate
Are you seeking short-term financing secured by commercial real estate in Oklahoma? On this page you'll find a list of select CRE Bridge Lenders that can finance an Oklahoma 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 Oklahoma
Non-Recourse Bridge Loan for Multifamily Refinance in Warr Acres, Oklahoma
$2,200,000
Archway Fund, a direct private lender based in LA, provided a $2.2MM refinance loan secured by a 138-unit, tax-credit, 90% occupied, apartment complex located in Warr Acres, Oklahoma. The loan-to-value was 68%. Cash flows break even due to the fact that the subject property is a Section 8 property and is 55% subsidized by OHFA. Archway was able to get comfortable with the tax-credit restrictions, build in an interest deficit reserve to cover the shortfall and close the gap until the property sells. The Borrower’s note was coming due and needed an expedited close. The interest rate was 9.0% with a 12-month term. No appraisal was required, and the Borrower did not have to personally guaranty the loan. This non-recourse refinance bridge loan was funded in August 2018.
Refinance & Rehab Bridge Loan for Two Oklahoma City Multifamily Properties
$12,285,000
In March 2018, Archway Fund financed a $12.3M bridge loan secured by two multi-family properties totaling 475 units located in Oklahoma City, OK. One of the two properties is stabilized at 95% occupancy with light rehab remaining. The other property is at 65% occupancy with over $1.5M budgeted to completely renovate the property and complete lease up. Borrower’s bank loans were maturing, therefore the borrower required a quick closing. Archway Fund was able to refinance the properties and provide $2.2M for rehab allowing the borrower to execute on the business plan. Exit is to sell both properties during the loan term. The interest rate is 7.99% at 70% LTV for a 24 month term.