Tennessee Bridge Lenders for Commercial Real Estate
Are you seeking short-term financing secured by commercial real estate in Tennessee? On this page you'll find a list of select CRE Bridge Lenders that can finance a Tennessee 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 Tennessee
1031 Exchange Bridge Loan for Portfolio of 3 NNN Commercial Properties in Tennessee, Georgia and Massachusetts
$3,550,000
Gelt Financial, a direct CRE lender, funded a $3.55MM bridge loan for the purchase of a NNN property portfolio. It was a 1031 exchange transaction that included three properties:
- Fast food restaurant in Murfreesboro, Tennessee
- Automotive oil change shop in Atlanta, Georgia
- Warehouse in Northampton, Massachusetts
The Borrower was up against a tight timeframe with the 1031 exchange, and banks were not able to provide a quick closing or surety of execution. We were able to close the deal in just two weeks, allowing the borrower to complete their 1031 transaction before the deadline. The purchase price was over $7.1MM. The Borrower contributed 50% cash from the sale of another property, and Gelt funded the remainder which is a conservative 50% LTV. We charged 11% interest and set the loan term at 24 months, which provides more than enough time to find permanent financing which will pay off our 1st mortgage. This CRE bridge loan was funded in October 2022.
Bridge Loan for a Resort Land Development in Claiborne, TN
$3,500,000
Commercial Capital BIDCO, a direct private lending firm based near Nashville, funded a $3,500,000 equity cash-out bridge loan for a land development deal in Claiborne County, Tennessee. The property consists of 850+ acres of raw land located on Norris Lake. Our client plans to develop this tract into a year-round resort. Funds from the cash-out are to be used for working capital on the project and to assist with their planned road development which is part of their infrastructure plan. The loan also includes an interest reserve. $10,208,000.00 as-is in August of 2021, so our bridge loan is 30% LTV. To exit the loan, the Borrower plans to sell off multiple land parcels to sub-developers who will eventually build homes or cabins. This bridge loan was funded in November 2021.