As was made abundantly clear in 2020 at the height of the pandemic, generally speaking, industrial and multifamily properties with maturing debt will find refinance options aplenty, with yield-hungry investors and lenders competing for their business.
Bridge financing can help multifamily borrowers with maturing debt and underperforming properties, according to Mark Jarrell, Greystone’s head of portfolio lending.
“As some properties have been thrust into a more ‘transitional’ phase in the last year, due to occupancy challenges and/or lower-than-expected collections, bridge financing can serve as an interim solution for maturing loans while the client prepares for long-term financing with HUD, Fannie Mae, Freddie Mac or CMBS,” he explained.
Read more in Commercial Property Executive.