Philadelphia Bridge Lenders for Commercial Real Estate
Are you seeking short-term financing secured by commercial real estate in the Philadelphia metro area? On this page you'll find a list of select CRE Bridge Lenders that can finance a Philadelphia 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...
Sorry, your search returned no results.
Completed Bridge Loan Transactions in Philadelphia
Gelt Financial, a direct CRE lender, funded a $280,000 1st lien position purchase bridge loan for the acquisition of a vacant daycare in Philadelphia, PA. We funded 52% of the $540,000 purchase price, while the Borrower contributed 48% cash at closing. The Borrower approached Gelt Financial because they needed to finance the purchase of their new daycare business. The Borrower owns similar businesses and performs very well. The subject property is approximately 2,424 square feet, including 3 bathrooms, divided rooms, and a fenced playground. It was built in 1975 and was in excellent condition. The Borrower had good credit. They plan to continue occupying the property and eventually refinance as an exit strategy. The interest rate was 13% floating and we charged 3% origination points. The loan term was set at 12 months. This CRE bridge loan was funded in December 2023.