Refinance Bridge Loan for Multifamily Portfolio in Houston, Texas

Deal Details

Private Loan Type


Approx. Funding Date


Property Type
Property City


Property State


Loan Term (months)


Lien Type

1st Mortgage

Payment Type

Interest Only

Property Value




Occupancy at Closing

Partially Occupied

Exit Strategy

Conventional Loan

Deal Summary

Ontario Wealth Management Corporation, a direct commercial real estate lender, funded a $33,500,000 1st lien position bridge loan secured by a multifamily property in Houston, TX. The property value was estimated at $66,000,000 so our loan-to-value was 51%. This loan refinanced a portfolio of 983 garden-style multifamily units in Pasadena, TX, a city 15 miles east of Houston. The properties are undergoing extensive CAPEX and, upon completion and stabilization, are positioned to realize a significant upside in rental income. The immediate area is concentrated with multinational oil refineries and blue-collar workforce housing. The Sponsor, a repeat client of our firm, is a seasoned Houston-based real estate investment and management firm whose strategy involves targeting value-add multifamily acquisitions within the Greater Houston metro area. The Borrower plans to refinance with a conventional loan as an exit strategy. The loan term was set at 6 months. This refinance bridge loan was funded in January 2022.

Funded By

Ontario Wealth Management Corporation

Direct Lender for Commercial Real Estate Bridge Loans