Multifamily Purchase and Rehab Bridge Loan in Lake Tahoe, California

Funded by First Bridge Lending CRE


Deal Details

Private Loan Type

Commercial Property Value Add

Approx. Funding Date


Property Type
Property City

Lake Tahoe

Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Reserve

Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase


Source of Borrower's Contribution


Renovation Budget


Renovation Budget Funded


Borrower's Contribution to Budget


After-Repair Value


Loan-to-After-Repair Value


Renovation Project Scope

Light Rehab

Property Neighborhood

South Lake Tahoe

Location Type


Property Condition


Occupancy at Closing


Number of Units


Borrower's Plan

Rehab and Rent

Exit Strategy


Borrower Credit Rating


Deal Highlights

Quick Close.
Lender Renovation Holdback.
No Appraisal Required.
No Prepay Penalty.

Deal Summary

First Bridge Lending, a direct private mortgage lender, funded a $4,000,000 fix and flip loan for a 36-unit multifamily residence in rural South Lake Tahoe, CA. The purchase price was $6,000,000 and the renovation budget was $500,000. First Bridge Lending funded 66% of the purchase price and 100% of the renovation budget in 1st lien position. The Borrower contributed 34% to the purchase. We set up an interest reserve, so monthly payments were not required during the loan term. The estimated after-repair-value was $7,600,000 so the loan-to-ARV that we funded was 52%. The Borrower was acquiring property from a convoluted estate, and the property was mired in liens from the former ownership. They needed a lender that could work through the title defects and get to the finish line in time. The subject property was in fair condition and tenant-occupied at closing. The Borrower had excellent credit. They plan to lease the property upon completion of the light rehab and eventually refinance as an exit strategy. The loan term was set at 18 months. This CRE value-add bridge loan was funded in December 2021.

Funded By

First Bridge Lending CRE

Fast CRE Bridge and Value-Add Loans | No Appraisal Required