Bridge Loan for Student Housing Acquisition in Eugene, Oregon

Funded by First Bridge Lending CRE


Deal Details

Private Loan Type


Approx. Funding Date


Property Type
Student Housing
Property City


Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price


Loan-to-Purchase Price


Borrower's Contribution to Purchase


Source of Borrower's Contribution

1031 Exchange

Location Type


Property Condition


Occupancy at Closing


Borrower's Plan

Long-Term Rental

Exit Strategy


Borrower Credit Rating


Deal Highlights

Quick Close in 1 Week.
No Prepay Penalty.
No Appraisal Required.
Stabilized Property.

Deal Summary

First Bridge Lending, a direct private mortgage lender, provided a $7,700,000 bridge loan to secure the acquisition of a student housing property in Eugene, OR. We funded 70% of the $11,000,000 purchase price in 1st lien position, and the Borrower contributed 30% at closing using funds from a 1031 Exchange. They were in contract to purchase this stabilized student housing property and were in the process of getting an agency loan which takes months to close. The seller offered a discount if the deal could close before year-end, but that timeframe was just 2 weeks. To capture that discount, the Borrower decided to use our bridge loan to close the deal fast. We funded it in 1 week. Since the agency loan was already approved and far along in the process, they expect to refinance within a few months. Our loan term was set at 6 months with no prepayment penalty. The subject property was in excellent condition and tenant-occupied at closing. This CRE bridge loan was funded in December 2021.

Funded By

First Bridge Lending CRE

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