BridgeInvest Closes a $23.3 MM Refinance Loan in Fremont, CA
1st Priority Mortgage Loan
Loan Amount
$23,300,000
Property Type
Multifamily
Location
Fremont, CA
BridgeInvest is excited to announce the closing of a $23.3 million refinance loan that is senior secured by an 88-unit multifamily community, located in Fremont, CA. The borrower purchased the asset in 2017 and subsequently completed a full renovation of the asset. BridgeInvest provided a flexible term bridge loan to help the borrower manage maturity of an agency loan as they moved to the next stage of their business plan.
Transaction Highlights:
- Supply constrained multifamily market located in the east bay
- Closed in less than 40 days from LOI allowing borrower to avoid a double interest payment due to agency loan structure
- Creatively structured to maximize flexibility for the borrower to move from one stage of their business plan to the next
