Archway Fund financed a $4.65M refinance bridge loan secured by a 23,000 square foot industrial property in Fairfield, Solano County, California. The sponsor’s mortgage was maturing and they needed a quick close to bridge the gap until the property sells. Archway Fund provided a smooth, quick closing process with non-recourse and no appraisal. We also provided a $1M equity cash out to be used for other investment opportunities. The property was fully occupied, and the loan-to-value was 60%. The interest rate on this bridge loan is 7.99% Interest Only fixed. We charged an origination fee of 1.5 points. The loan term is 12 months with 3 months of guaranteed interest. As with almost all of our deals, the Sponsor did not have to personally guarantee the loan. This bridge loan was funded in July 2019.