Oregon Bridge Lenders for Commercial Real Estate
Are you seeking short-term financing secured by commercial real estate in Oregon? On this page you'll find a list of select CRE Bridge Lenders that can finance an Oregon 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 Oregon
Equity Cash Out Bridge Loan for Cannabis Farm in Medford, Oregon
$345,000
Blue-inc Capital, a private lender based in Oregon, funded a $345,000 refinance bridge loan in 1st lien position secured by a Cannabis Farm in rural Medford, OR. The property value was estimated to be $700,000 and the renovation budget was $345,000. We funded 49% of the purchase and 100% of the renovation. The Borrower contributed 51% of the purchase price at closing. The after-repair value was estimated to be $1,200,000 so our loan-to-after-repair value was 28%. The Borrowers were looking to expand their cannabis operation which included adding new greenhouses and upgrading the existing ones. We were able to close this loan quickly and give the Borrowers the cash they needed based on the equity in the property. The subject property was in good condition and vacant at closing. The Borrower had good credit. They plan to pay off this loan using revenue from the cannabis business over the 24-month loan term. This CRE refinance bridge loan was funded in February 2023.
Precision Capital, a direct private lender, funded a $1,827,000 bridge loan in 1st lien position secured by a 39-unit hotel in Burns, OR. The property value was estimated to be $3,280,000 so our loan-to-value was 55%. We paid off a previous loan balance of $1,634,344. The subject property was in excellent condition and situated in a rural location. The lot acreage was approximately 1.97. The Borrower had excellent credit. They plan to continue leasing the property and eventually refinance as an exit strategy. The interest rate was fixed at 10.99%. We charged 3% origination points, and the broker earned a $27,405 commission. The loan term was set at 36 months. This refinance bridge loan was funded in January 2023.
CRE Bridge Loan for Retail Property Acquisition in Independence, Oregon
$1,500,000
First Bridge Lending, a direct private mortgage lender, provided a $1,500,000 bridge loan to secure the acquisition of a retail property in Independence, OR. We funded 28% of the $5,315,000 purchase price in 1st lien position. The Borrower contributed 19% cash at closing, and the remaining 53% of the purchase was financed by the seller in 2nd lien position. The Borrower was acquiring a retail center with a vacant anchor tenant. They had a tenant in tow but needed time to execute the lease and make the necessary tenant improvements before occupancy and rent commencement. In addition to the vacancy, many other lenders would not allow a seller-carry second lien on the property. This was perfectly acceptable to us and it gave us a very conservative loan-to-value. The Borrower self-funded the improvements. Aside from the anchor unit, the rest of the property was leased. The subject property was in good condition and partially occupied at closing. The Borrower had excellent credit. They plan to lease up the vacant units and eventually refinance as an exit strategy. The loan term was set at 18 months. This CRE bridge loan was funded in November 2022.
Blue-inc Capital, a private lender based in Oregon, funded a $2,100,000 purchase bridge loan in 1st lien position for the acquisition of a vineyard in Yamhill, a small town approximately 30 miles West of Portland, OR. We funded 77% of the $2,700,000 purchase price, while the Borrower contributed 23% cash at closing. They utilized the ease and smooth process of local, private money for a fast close to acquire the subject property. The vineyard had been fully operational at the time of the purchase. The property included a tasting room, but it was in need of an upgrade. The Borrower plans to update the tasting room, add some space, and make other improvements to the property. They will refinance with traditional bank financing once changes and updates are completed. The loan term was set at 12 months. This purchase bridge loan was funded in October 2022.
Bridge Loan for Student Housing Acquisition in Eugene, Oregon
$7,700,000
First Bridge Lending, a direct private mortgage lender, provided a $7,700,000 bridge loan to secure the acquisition of a student housing property in Eugene, OR. We funded 70% of the $11,000,000 purchase price in 1st lien position, and the Borrower contributed 30% at closing using funds from a 1031 Exchange. They were in contract to purchase this stabilized student housing property and were in the process of getting an agency loan which takes months to close. The seller offered a discount if the deal could close before year-end, but that timeframe was just 2 weeks. To capture that discount, the Borrower decided to use our bridge loan to close the deal fast. We funded it in 1 week. Since the agency loan was already approved and far along in the process, they expect to refinance within a few months. Our loan term was set at 6 months with no prepayment penalty. The subject property was in excellent condition and tenant-occupied at closing. This CRE bridge loan was funded in December 2021.