Equity Cash-Out Bridge Loan for Triplex in Jersey City, New Jersey

Funded by Stormfield Capital, LLC


Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date


Property Type
2-4 Units Residential
Property City

Jersey City

Property State


Lien Type

1st Mortgage

Payment Type

Interest Only

Source of Borrower's Contribution

Equity in Subject Property

Number of Units


Deal Summary

Stormfield Capital, a direct portfolio bridge lender in Connecticut, funded a $750,000 cash-out refinance for a 3-unit multifamily property in Jersey City, NJ. The Borrower acquired the property, completed a gut renovation, and stabilized the 3-unit multifamily property using a national fix and flip lender. The Borrower came across an off-market property to acquire and needed to close very fast, so they turned to Stormfield to cash out some equity from the 3-unit property to get the cash needed to close on the new deal. We had an existing relationship with the Borrower and provided funding for another one of their deals in the past, so they knew that we would be able to execute in time-sensitive situations. This bridge loan was funded in March 2021.

Funded By

Stormfield Capital, LLC

Direct Balance-Sheet Lender for Investment Properties