bridge loan financing
(Secured by 1st lien)
This product allows borrowers to finance properties
or portfolios with “value-added” opportunities. Cen-
terline Capital Group can structure financing that will allow borrow-
ers to carefully manage a re-leasing or repositioning program.
“Value-added” commercial properties including multifamily, office,
industrial, retail, self-storage and mobile home parks. Centerline
Capital Group will also consider select hospitality and mixed-use
property types. Emphasis will be placed projects that need short-
term lease-up, repositioning or rehabilitation.
Up to 80%. Certain loans may require sponsor guarantees.
1.05x initial coverage on an amortizing basis. Some loans will
have less than a 1.0x coverage in which case an interest reserve
will be required. Low coverage loans may require an interest re-
serve. Stabilized coverage should be Multifamily-1.15; Office-1.20;
Retail-1.20; Industrial-1.20; Mobile Home Parks-1.20; Hospitality-
1.45; Self Storage-1.20.
$5 million – $50 million.
From 18 to 36 months; with two 12 month extension options.
Variable and fixed rates available. Loans may require interest rate
caps to ensure a minimum DSCR.
Market competitive pricing available upon request.
Interest only available.
Open to prepayment with payment of exit fees.
First-lien assignment of property interest. Single-purpose entities
Typically .5-1% of loan balance. Exit fees range from .25-1%. Exten-
sion options range from .25-.5% per 12 month option.
Non-recourse except for customary environmental, malfeasance
and fraud carve-outs. Loans with elevated risks may require full
or partial sponsor recourse guarantees or additional structuring
requirements such as letters of credit. Loans with any construc-
tion or rehab component will require a completion guaranty from