Bridge Loan for Multifamily Property Acquisition in Phoenix, Arizona

BridgeCore Capital, a direct CRE private lending firm, funded a $730,000 non-recourse bridge loan to purchase a 16-unit multifamily property located in Phoenix, Arizona. The Borrower could not secure a conventional loan from its bank in time to close this acquisition. BridgeCore stepped in quickly to bridge the Borrower’s investment by underwriting value without an appraisal report, then conducting its site inspection and documenting the loan, which closed in 1.5 weeks. We provided 3-month yield maintenance, allowing the Borrower the time needed to finalize conventional take-out financing. BridgeCore employed its decades of experience and innovative strategies, solving the Borrower’s array of property-related challenges, and secured highly competitive loan terms to facilitate and consummate the purchase. This CRE bridge loan was funded in August 2021.