Transitional capital

Bridge Loans

Short-term senior debt for deals that aren't ready for permanent financing: acquisitions on a clock, repositions, lease-ups, and cash-outs, funded by the debt funds and balance-sheet lenders competing hardest right now.

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At a glance

Indicative program terms.

Loan size	$2,000,000 – $100,000,000+
Leverage	Typically up to 75–80% of cost; future funding for capex available
Rate	Floating over SOFR (fixed available from select lenders)
Term	12–36 months, with extension options
Amortization	Interest-only
Recourse	Non-recourse widely available; partial recourse improves pricing
Speed	Typically 3–6 weeks; select lenders can move faster on clean deals
Exit	Sized to a realistic take-out: sale, agency, HUD, CMBS, or bank refinance

Bridge pricing and structure vary widely by lender type and business plan; leverage on cost, spreads, and fees are quoted deal-by-deal.

Bridge debt is a means, not an end

Good bridge financing is underwritten backwards from the exit. Before we place a dollar of transitional debt, we size the take-out (the agency, HUD, CMBS, or bank refinance your stabilized asset will support) so the bridge proceeds, term, and extensions actually get you there. A cheap bridge loan with a broken exit is the most expensive loan in real estate.

A crowded, uneven market

Hundreds of debt funds, banks, and specialty lenders quote bridge, with wildly different costs of capital, leverage appetites, and reliability. Spread quotes can differ by hundreds of basis points for the same deal, and the cheapest term sheet is frequently from the lender least likely to close. We run a targeted process among lenders with proven execution in your asset class and market, and we compete structure (future funding, extension tests, recourse, exit fees) as hard as rate.

Built for speed when speed is the deal

Hard closing date, maturing debt, or a discounted payoff window: bridge is often about the calendar. Tell us the real deadline on day one and we'll build the lender list around it.

Questions

Common questions.

How fast can a bridge loan close?

Select lenders can close in a few weeks on a clean deal with responsive third parties. Realistically, plan 3–6 weeks for most institutional bridge executions, and tell us your true deadline up front so we target lenders who can hit it.

What does bridge debt cost versus permanent financing?

More. You're paying for speed, leverage on cost, and flexibility. Floating spreads over SOFR plus origination (and sometimes exit) fees vary widely by lender and business plan, which is precisely why competing the market matters most in bridge.

Do bridge lenders fund renovation budgets?

Yes. Future-funding facilities that advance capex as work completes are standard on value-add bridge loans. We structure the initial funding, holdback, and draw mechanics around your actual construction schedule.

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