CRE Bridge Financing
This program is specifically designed for properties that are either stabilized or are in need of minor to moderate renovation or other value-add strategy where the client needs leverage above a first mortgage bridge loan.
$500,000 - $50,000,000
Typically up to 3 Years (including extensions)
Interest-Only (some amortization may be required after two years of term)
Loan to Value:
Up to 90.0% of current value and 80% of stabilized value
Generally, the loan will be open to prepayment after six months subject to the payment of an exit fee. The exit fee shall be waived if Greystone provides permanent financing.
Third Party Reports:
MAI Appraisal, Physical Needs Assessment, and Environmental Phase I Assessment are required, plus Seismic Report may be required for properties in Seismic Zones 3 and 4
Tax and insurance escrows are required; Funded Repair and Replacement escrow is required, based on engineer’s Physical Needs Assessment; For loans of less than 65% of value with no deferred maintenance, funding of repair and replacement reserve can be waived at lender’s discretion
$5,000 - $25,000; Covers 3rd Party reports and processing/underwriting costs