San Francisco, CA
The sponsor was under contract to sell the building to a buyer who plans to redevelop the site. The buyer would not close without permits and approvals in hand, therefore the sponsor required a short-term bridge loan to bridge the gap between now and the buyer's expected closing. Archway Fund structured the deal to help with the immediate operational and liquidity requirements of the sponsor while bridging the time until the buyer of the property closes on the transaction. The loan included an interest reserve to assist with the cash flow shortfall. This bridge loan was funded in February 2017.