Bridge Loan for Quadplex Purchase in Peachtree Corners, Georgia

Lima One Capital, a lender for residential real estate investors, funded a $600,000 1st lien position bridge loan for the purchase of a quadplex in Peachtree Corners, Georgia, a suburb of Atlanta. We funded 80% of the $755,000 purchase price, while the Borrower contributed 20% cash at closing. He wanted to purchase the property but needed a flexible financing solution given the high-interest rate environment of 2022. He approached Lima One for a bridge financing option. We empowered the investor to purchase the property with an interest–only bridge plus loan right on schedule. The 13–month term with no prepayment penalty gives the investor maximum flexibility to refinance when the interest rate environment is more favorable or extend with further bridge financing if rates remain high. This allows the investor to start receiving cash flow from the property while maximizing profit over the long term. The solution plus the service are the reasons the customer continues returning to Lima One. The Borrower plans to continue renting the property and will eventually refinance as an exit strategy. This purchase bridge loan was funded in November 2022.