BridgeInvest Closes a $19.75MM Refinancing Loan in San Carlos, CA
1st Priority Mortgage Loan
Loan Amount
$19,750,000
Property Type
Land
Location
San Carlos, CA
BridgeInvest is pleased to announce the closing of a $19.75MM refinancing loan for 11.4-fee simple acres of generational, infill developable land in San Carlos, California. The Sponsor assembled the irreplaceable land in 2016 and spent 7 years entitling the Property to build 87 for-sale townhomes. The pre-development loan will provide the Sponsor time to move through the remaining permitting process ahead of construction anticipated for 4Q26.
This financing marks BridgeInvest’s first loan in the Bay Area as part of the firm’s strategic expansion to all western markets from Colorado to Hawaii.
Transaction Highlights:
- Ability to fund a non-cash flowing land asset.
- Generational assemblage in a wealthy and highly desirable suburb between downtown San Francisco and the tech haven of Palo Alto.
- The project will capitalize on a density bonus by including 10-affordable units.
