Texas Bridge Lenders for Commercial Real Estate
Are you seeking short-term financing secured by commercial real estate in Texas? On this page you'll find a list of select CRE Bridge Lenders that can finance a Texas 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 CRE Bridge Loans in Texas
CRE Bridge Loan for Medical Office Building in El Paso, Texas
$1,650,000
Sherpa Capital, a private lender, funded a $1,650,000 1st lien position bridge loan for the acquisition of a medical office building situated in the main medical district of El Paso, TX. We funded 82.50% of the $2,000,000 purchase price while the Borrower contributed 17.50% cash at closing. Our Client was a local radiologist aiming to expand their medical practice and transition to a larger facility. They are high income earners with a clear exit strategy, so we felt comfortable going much higher on the leverage than we normally do, and we charged a healthy rate/fee to compensate for our additional risk. We also felt the purchase price was around $600,000 below market value. The purchase contract gave a short window of time to close. They required a quick closing before year-end to capitalize on favorable tax planning (accelerated depreciation). Conventional financing was unable to meet the tight deadline, but Sherpa provided financing within just 2 weeks. The Borrower’s exit strategy is to refinance with a conventional lender within a few months. They already have a term sheet in hand. The subject property was in good condition and vacant at closing. The loan term was set at 6 months. This CRE bridge loan was funded in December 2023.
Bridge Loan for Single-Tenant Retail Building in Fort Worth, Texas
$1,340,000
BridgeCore Capital, a direct CRE private lending firm, funded a $1.34M non-recourse bridge loan to purchase a single-tenant retail property located in Fort Worth, Texas. The property was occupied by Family Dollar. BridgeCore’s industry-leading pay-rate bridge product provided the Borrower with a 7.00% pay rate during the entire loan term, with the remaining interest accruing to loan pay-off without compounding interest. Due to the REIT structure of the borrowing entity, conventional financing could not be secured in a timely manner for the purchase. With limited time to close, and given the constraints of the former lender, BridgeCore was able to quickly fund the purchase with the existing borrowing entity structure. BridgeCore’s 12-month term, including one six-month extension option, is now providing the Borrower the necessary time to pursue and execute an ultimate exit strategy with conventional financing. This CRE bridge loan was funded in July 2021.
Equity Cash-Out Bridge Loan for Multifamily Property in Baytown, Texas
$3,400,000
Avatar Financial Group, a direct private money lending firm, funded a $3,400,000 1st lien position refinance bridge loan secured by a 79-unit apartment building in Baytown, TX. The Sponsor purchased this multifamily property as part of a distressed sale in 2012. Since the purchase, the Borrower has invested in substantial capital improvements, successfully stabilizing the property along the way. Avatar was asked and was able to refinance the existing debt and provide cash out to the Borrower to use for another investment opportunity. Our interest rate was 9% for a 12-month term and loan-to-value of 74%. The deal was brought to us by a mortgage broker to whom we paid a commission of $17,000. This CRE bridge loan was funded in July 2019.
Equity Cash Out Bridge Loan for Retail Property in Tomball, Texas
$3,000,000
Ontario Wealth Management Corporation, a direct private mortgage lender, funded a $3,000,00 1st lien position bridge loan secured by a commercial plaza located in Tomball, TX. The Borrower needed to cash out equity on the property to use for the acquisition of inventory for their business. The property is a 23,000-square-foot newly built commercial retail plaza 35 miles north of Downtown Houston. Although the property had a good amount of equity, the Borrower pledged an additional property to maximize the loan amount. The property that we cross-collateralized is a 1,200-square-foot residential condominium unit in Midtown Manhattan, NY. This CRE equity cash out loan was funded in April 2019.